Air Canada has announced an agreement with BOC Aviation Limited to acquire eight Boeing 737-8 aircraft, set to enter service in 2025. The new planes will undergo required modifications before joining Air Canada’s fleet, initially operating with a single Economy class layout. Michael Rousseau, President and Chief Executive Officer of Air Canada, said: “We look
Air Canada has announced the successful closing of U.S.$2.15 billion senior secured credit facilities, comprising a U.S.$1.175 billion term loan B maturing in 2031 and a U.S.$975 million revolving credit facility maturing in 2029. The proceeds from the term loan, along with U.S.$1.09 1.09 billion from Air Canada′s balance sheet, will be used to refinance
Air Canada has announced plans to cap fares and introduce over 6,000 extra seats on routes that were operated by Lynx Air, following Lynx Air’s decision to suspend its operations starting February 26, 2024. This measure by Air Canada is aimed at providing Lynx Air’s customers, affected by the airline’s cessation, with more affordable travel
The news comes after the IATA called last month for an end to in-flight physical distancing rules, proposing a range of more economical measures.
The flag carrier had originally announced plans to acquire Air Transat, the country's third largest airline, in May 2019. An offer was subsequently made at C$13 per share, or an all-cash bid of C$520 million.
The company says that it has shed nearly 95 per cent of its service over the course of the COVID-19 crisis, and has been left flying to less than half of previous destinations.
