AIR CANADA struggles on. Just. An Ontario judge has extended Air Canada's bankruptcy protection to 30 September, after it won crucial concessions from the Canadian Auto Workers union, allowing the insolvent carrier to complete its restructuring. The deadline extension means the airline can present a formal plan of arrangement to creditors to settle about ”6bn debts and obligations. Creditors are due to vote on the plan by 15 August allowing a rescue package from Deutsche Bank and General Electric Capital finance house to go ahead.
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