AIR CANADA BUYS CANADIAN’S TOKYO SLOTS

AIR CANADA BUYS CANADIAN’S TOKYO SLOTS

   Air Canada has purchased Canadian Airlines’ operating slots at Tokyo’s
Narita Airport to provide Canadian with enough cash to survive until Air Canada can buy
the carrier next year.
   Canadian approved Air Canada’s C$92 million ($62 million) bid to
purchase the airline last week, but needs cash to stay in business until
the deal can be closed sometime in the first quarter.
   Air Canada said it will use the slots to begin service from Toronto to
Tokyo in April. Terms of the sale were not disclosed.