=20 ---------------------------------------------------------------------- This article was sent to you by someone who found it on SF Gate. The original article can be found on SFGate.com here: http://www.sfgate.com/cgi-bin/article.cgi?file=3D/news/archive/2003/07/21/f= inancial1627EDT0215.DTL ---------------------------------------------------------------------- Monday, July 21, 2003 (AP) Air Canada restructures aircraft leases (07-21) 13:27 PDT (AP) -- MONTREAL (Dow Jones/AP) -- Air Canada Monday said it reached an agreement with International Lease Finance Corp., the airline's second largest operating lessor, on restructured lease terms for 12 aircraft in its fleet. The detailed terms of the agreement with Los Angeles-based ILFC, a unit = of American International Group, are confidential. As part of the agreement, the Canadian air carrier, which filed for bankruptcy protection on April 1, will recommence payment of aircraft rent to ILFC, Air Canada said. With the agreement, Air Canada has renegotiated leases on 121 aircraft. "With our two largest aircraft lessors now on board, we are focused on completing the majority of our remaining lease agreements by our July 31 target date and moving quickly to the next phase of restructuring," said Robert Milton, Air Canada's president and chief executive. ILFC leases and markets commercial jet aircraft. It holds a portfolio valued at more than $30 billion. =20 ---------------------------------------------------------------------- Copyright 2003 AP