Canada to Sell Part of Airline
The Conservative federal government plans to sell 45% of Air Canada, the national airline, to the public, Deputy Prime Minister Don Mazankowski announced in Parliament today.
The government will retain a 55% controlling share in the crown corporation, one of the 10 largest airlines in the world with routes in North America, Europe and the Far East. A national poll published last month indicated that a majority of Canadians oppose selling the airline. But company management, facing increasing competition from the privately owned Canadian Airlines International and Wardair, urged the government to sell at least a portion of Air Canada to give it more financial flexibility.
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