Air Canada takes out full-page ads in major papers to reassure customers Canadian Press Wednesday, April 02, 2003 TORONTO (CP) - Air Canada, which filed for bankruptcy protection Tuesday, took out full-page ads in the country's national papers Wednesday trying to reassure customers that it's business as usual at Canada's dominant carrier. Although the Montreal airline began a restructuring under court protection from its creditors Tuesday, it continues to fly and operate regularly. "It is important that you understand that we are not going out of business," the ad said. "We will continue to work hard to provide you with the safe, reliable quality service that you have come to expect from Air Canada. You can continue to book your travel with confidence." The carrier said all its Air Canada, Jazz, Tango, Zip and Air Canada Vacations flights are operating as usual and all regular policies and fees apply. As well, customers' participation in the frequent flyer Aeroplan program is unaffected and travellers will continue to earn and redeem Aeroplan miles as usual. "We are determined to emerge from this process a stronger, leaner, more financially competitive company that will take you where you want, when you want, at prices that make sense for you," the ad says. Air Canada (TSX:AC.A) sought bankruptcy protection to avoid collapse after it failed to get major cost cuts from all its unions. The protection from its creditors will allow the carrier to continue operating while it negotiates a survival plan with employees, creditors and other stakeholders over the next several months. The restructuring is expected to take about six months and will likely leave Air Canada with fewer planes, fewer employees and a slimmed down route structure - with the possibility that the carrier will withdraw from serving some smaller Canadian communities. As a result, customers may find less flexibility in booking their flights and could find it more difficult to fly to some cities. On Tuesday, Air Canada CEO Robert Milton pointed to recent airline restructurings in the United States to insist that nothing will change for travellers, while suppliers and employees will continue to be paid. "Air Canada's customers around the world can continue booking with confidence that their travel plans will not be disrupted." In trading on the Toronto Stock Exchange on Wednesday, Air Canada's common shares plunged $1.28 to 82 cents, a drop of 61 per cent, in trading of 6.9 million shares. *************************************************** The owner of Roger's Trinbago Site/TnTisland.com Roj (Roger James) escape email mailto:ejames@xxxxxxxxx Trinbago site: www.tntisland.com Carib Brass Ctn site www.tntisland.com/caribbeanbrassconnection/ Steel Expressions www.mts.net/~ejames/se/ Site of the Week:http://www.ttsailing.org/ TnT Webdirectory: http://search.co.tt *********************************************************