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-06.17.24

Airborne-NextGen-06.18.24

 Airborne-Unlimited-06.12.24 Airborne-FltTraining-06.13.24

Airborne-Unlimited-06.14.24

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

USCG MH-60 To The Rescue (Again) -- Rescues 4 Boaters

Capsized Vessel Located Near Dauphin Island, Alabama The Coast Guard rescued four boaters after their vessel capsized near Dauphin Island, Alabama, Thursday. Coast Guard District E>[...]

Gray Eagle Order Placed for Army National Guard

Reserve Components Looking to Improve In-House General Atomics Aeronautical Systems announced a fresh order for a dozen Gray Eagle 25M UAVs with accompanying equipment, for fulfill>[...]

Aero-Biz Survival 101 (1120a): Expert Ideas To Help You Through Tough Times

Brand New! Avoid The Need For A Comeback... Get Your Marketing Right, Right Now! Some time ago, the Aero-News Network, responding to numerous requests, established a marketing and >[...]

Airborne 06.03.24: Rotax 915/916 SB, Starship 4 Ready?, B-17 Mementos

Also: Hubble On Pause, FedEx Pilots Picket, Nexus eVTOL, VFS Honors The Rotax folks have published a Service Bulletin after issues were noted that may affect all R915i and R916i se>[...]

Mid-Continent Instruments and Avionics Mourns Former Leader

John W. Winter of AEA and Avionic Fame Passes John W. Winter brought Mid-Continent Instrument Company into the modern era in 1980, purchasing the firm and using it as a base for ex>[...]

blog comments powered by Disqus



Change Display

Headlines Only | Headlines w/ Teasers | View Everything

Advertisement

Top Videos

Airborne-NextGen 06.18.24: Drone Aids Tree, C-130J Automation, New Regs

Airborne 06.17.24: Icon Sale?, Risen TransAtlantic Crossing, ISS Scare

Airborne 06.14.24: Air Race Classic, Bong's P-38, Powered Lift Regs

See All

Advertisement

Podcasts

Advertisement

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