Rediffmail Money rediffGURUS BusinessEmail

Air Canada files for bankruptcy protection

April 02, 2003 11:12 IST

Air Canada, the country's biggest airline, filed for bankruptcy protection before a Toronto court on Tuesday, according to court documents.

The Montreal-based airline filed for protection under the Companies' Creditors Arrangement Act, which allows a firm to keep operating while it tries to file a restructuring plan.

The Canadian Auto Workers, a key union at Air Canada, said earlier on Tuesday it expected the airline to file for bankruptcy protection after failing to reach job cut agreements with other unions.
Source: REUTERS
© Copyright 2026 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

WEB STORIES

5 Winter Sweets To Keep Warm

8 Hottest Places in India To Visit This Winter

14 Must-Eat Nolen Gur Mishtis Before You Die

VIDEOS

NewsBusinessMoviesSportsCricketGet AheadDiscussionLabsMyPageVideosCompany Email