> >Air Canada completes aircraft sale-leaseback transaction valued at >approximately cad $565 million > > > > > > MONTREAL, Dec. 21 /CNW/ - Air Canada today announced the completion of an >aircraft sale-leaseback transaction providing approximately CAD $565 million >of new funding for the carrier. In an agreement with GE Capital Aviation >Services, Inc. (GECAS), Air Canada will sell and leaseback 16 Airbus A320 and >one A319 owned aircraft. > "This transaction demonstrates Air Canada's ability to raise liquidity in >these difficult times and is consistent with the airline's objective of >maintaining stability in the current economic environment," said Rob Peterson, >Executive Vice President and Chief Financial Officer. "While further cost >reductions are still required, we remain confident that the company's >liquidity requirements will continue to be met in light of current and >anticipated needs." > In addition, under the agreement, Air Canada will lease six new Airbus >aircraft comprised of either A319s or A320s to coincide with the return of >older A320 aircraft in 2003 and 2004. With the replacement of the six aircraft >averaging approximately 12 years of age, with new aircraft at approximately >the same lease costs, Air Canada will benefit from reduced maintenance costs >and the operational efficiencies associated with the use of the latest >aviation technologies. > > The owner of Roger's Trinbago Site: Roj (Roger James) *************************************************** Trinbago site: http://www.tntisland.com ICQ: ICQ # 15836110 ICQ Pager: mailto:15836110@pager.icq.com escape email #!1 mailto:ejames@escape.ca yahoo email #2: mailto:triniroj@yahoo.com Yahoo Pager: triniroj Caribbean Brass & Soca Connection Group on Yahoo: http://groups.yahoo.com/group/caribsocabrass Caribbean Brass & Soca Connection Club Website http://www.tntisland.com/caribbeansocabrassconnection/ ******************************************************* Steel Expressions Orch http://www.escape.ca/~ejames/se/ email #1: mailto:steelexpressions@yahoo.com email #2: mailto:steelexpressions@home.com ******************************************************* The Trinbago Site of the Week: (101 Art Gallery) http://101artgallery.com (101 Art Gallery) courtesy of Roj Trinbago Website & TnT Web Directory Roj's Trinbago Website: http://www.tntisland.com TnT Web Directory: http://search.co.tt *********************************************************