Air Canada: Its All About Cash | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-04.22.24

Airborne-Unlimited-04.16.24

Airborne-FlightTraining-04.17.24 Airborne-AffordableFlyers-04.18.24

Airborne-Unlimited-04.19.24

Join Us At 0900ET, Friday, 4/10, for the LIVE Morning Brief.
Watch It LIVE at
www.airborne-live.net

Wed, May 27, 2009

Air Canada: Its All About Cash

Every Penny Counts...

Air Canada, which sits on the brink of a possible second bankruptcy in six years, has received some good news. The Toronto Star reports Canada's largest airline has reached a preliminary agreement with a credit-card processor that will reduce the amount of cash Air Canada is required to keep on hand.


 
When airlines suddenly go under, and can't deliver the flights for which credit card companies have already paid, consumers can demand refunds, and the card companies eat the bill. For protection, credit card companies insist that airlines have at least a minimum amount of cash on hand, or face having payments for tickets withheld by the card companies until the flights are provided. The impact on an airline's cash-flow is a big deal.

Air Canada's deal reportedly lowers the cash requirement from 900 million to 800 million dollars, but the airline isn't out of the woods yet. Air Canada reports current cash reserves of just a billion dollars, and has 1.25 billion in debts and pension fund contributions coming due this year.

FMI: www.aircanada.ca

Advertisement

More News

Airbus Racer Helicopter Demonstrator First Flight Part of Clean Sky 2 Initiative

Airbus Racer Demonstrator Makes Inaugural Flight Airbus Helicopters' ambitious Racer demonstrator has achieved its inaugural flight as part of the Clean Sky 2 initiative, a corners>[...]

Diamond's Electric DA40 Finds Fans at Dübendorf

A little Bit Quieter, Said Testers, But in the End it's Still a DA40 Diamond Aircraft recently completed a little pilot project with Lufthansa Aviation Training, putting a pair of >[...]

ANN's Daily Aero-Term (04.23.24): Line Up And Wait (LUAW)

Line Up And Wait (LUAW) Used by ATC to inform a pilot to taxi onto the departure runway to line up and wait. It is not authorization for takeoff. It is used when takeoff clearance >[...]

NTSB Final Report: Extra Flugzeugbau GMBH EA300/L

Contributing To The Accident Was The Pilot’s Use Of Methamphetamine... Analysis: The pilot departed on a local flight to perform low-altitude maneuvers in a nearby desert val>[...]

Classic Aero-TV: 'Never Give Up' - Advice From Two of FedEx's Female Captains

From 2015 (YouTube Version): Overcoming Obstacles To Achieve Their Dreams… At EAA AirVenture 2015, FedEx arrived with one of their Airbus freight-hauling aircraft and placed>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC