> >Air Canada Claim Under Airline Compensation Package Relating To September >11 Losses Reduced > > > > > > MONTREAL, April 18 /CNW/ - Air Canada was today advised that its claim >under the Airline Compensation Program for losses incurred as a result of the >closure of Canadian airspace in the days following the terrorist attacks on >September 11 has been reduced to approximately $60 million despite initial >estimates of approximately $100 million. > The interpretation of the program's criteria by the Auditor General and >Transport Canada excludes lost revenue from ticket sales during the >September 11 to 16, 2001 period for flights subsequent to September 16. > As a result, Air Canada will take a charge of approximately $37 million >against non-operating expense in its First Quarter 2002 results. > Air Canada's operating fundamentals remain as previously disclosed with >an expectation of returning to profitability over the seasonally stronger >quarters. > > > The owner of Roger's Trinbago Site: Roj (Roger James) *************************************************** escape email mailto:ejames@escape.ca Trinbago site: http://www.tntisland.com CBSC Website http://www.tntisland.com/caribbeansocabrassconnection/ The Trinbago Site of the Week: (Blue Haven) http://www.bluehavenhotel.com/ (Blue Haven Hotel & Resort) courtesy of Roj Trinbago Website & TnT Web Directory Roj's Trinbago Website: http://www.tntisland.com TnT Web Directory: http://search.co.tt *********************************************************