In a struggle to reduce its workforce by some 9,000 people,
In a struggle to reduce its workforce by some 9,000 people,
Canada`s second-biggest airline is reportedly showing signs of decline as booking are said to have dropped by about 40 to 50 percent since the September 11th terrorist attacks in the US. According to Air Canada officials, Canada 3000, did not have a line of credit before the terrorist attacks Sept. 11 that sent airlines around the world into a tailspin, and without state support, the banks won`t lend it money. In the Canadian capital, government officials refused to be specific but said the federal government is in talks to restructure the industry and has already provided CAD $160 million in interim payments for airline losses directly related to the terrorist attacks. The subject of loan guarantees, however, was not addressed.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
