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Air Canada Timeline

History Artifact #4

Hariesh J

on 31 December 2012

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Transcript of Air Canada Timeline

April 10, 1937
The government passes
an act establishing Trans
-Canada Air Lines Sept. 1, 1937
Scheduled flights begin, April 1, 1939
passenger and mail routes expand. Jan. 1, 1965
Act of Parliament changes
the name of Trans-Canada
Air Lines to Air Canada 1969
Canada's Ministry of Transport
defines where the five regional
airlines can fly. Early 1970s
Air Canada's revenue is more
than $500 million. Its fleet
includes three Boeing 747s,
eight extended DC-8s, 14 DC-8s,
four cargo DC-8s, 36 DC-9s and
17 Viscounts. modern day fleet THE BEGINNING 1987
The airline starts cargo flights to Shannon and Brussels. It has a fleet of 113 aircraft, including five Boeing 747s, 16 L-1011, 36 Boeing 727s and 14 Boeing 76 1988
Air Canada is privatize, 43%
of Air Canada's shares are
sold to the public February 1990
Air Canada generates
$400 million from
trans-border route August 1990
Fears of terrorism in the Persian Gulf cause the international travel market to plunge. October 1990
Air Canada announces it will cut close to 3,000 jobs in an effort to reduce costs by $570 million. 1992
The North American recession hits the travel industry hard. Air Canada sees this as a buying opportunity and proposes to merge with Canadian Airlines. Air Canada starts to have doubts it can manage the combined $7.7-billion debt load and the deal dies Aug. 20, 1999
Air Canada proposes to buy Canadian Airlines' international routes. It's rejected The Bid on Canadian Airlines Aug. 24, 1999
Onex plans to buy Canadian Airlines. Onex is backed by American Airlines and is paying $1.8 million and assuming $3.9 billion in debt. Aug. 31, 1999
Air Canada adopts a poison pill aimed at thwarting a takeover Sept. 2, 1999
18,500 airline employees say they'll strike Sept. 27 if the government doesn't guarantee there will be no forced job losses in airline restructuring Oct. 19, 1999
Air Canada, backed by star alliance, unveils a $930 million counterbid to the Onex offer. Air Canada offers $92 million for Canadian Airlines and claims to run its rival as separate company Nov. 2, 1999
Air Canada buys back 36.4 per cent of the airline stocks for $16 a stock. By: Hariesh Jeevarajah HIstory Artifact #4:
The History Of... Nov. 5, 1999
Onex withdraws its offer, Air Canada says it will press ahead with bid to take over Canadian Airlines.  VICTORY
Dec. 8, 1999
Air Canada takes control of Canadian Airlines with more than 50 per cent of Canadian shares tendered. Feb. 2, 2001
Air Canada reports a fourth-quarter loss of $274 million, due to the soaring cost of jet fuel July 4, 2001
Air Canada is asking its employees to take a leave of absence or voluntarily work reduced hours.  Sept. 11, 2001
All Canadian flights cancelled in wake of attacks on U.S. targets. BANKRUPTCY :( Sept. 19, 2001
Air Canada asks for $4 billion in aid from Ottawa Sept. 26, 2001
Air Canada chops another 5,000 jobs and grounds 84 planes because of a sharp decline in airtravel. Air Canada launches Tango and Jazz a new discount airline. Feb. 7, 2002
Air Canada reports its largest annual loss – $1.25 billion. Thus, many money losing maritime routes are cut. Mar. 20, 2003
Air Canada announces it is slashing 3,600 jobs. Aug. 07, 2003
Air Canada reports it lost $566 million in the second quarter of the year after being devastated by the Iraq war and SARS  Jan. 18, 2004
An Ontario Superior Court judge approves Air Canada's financial rescue package. April 2, 2004
Trinity Time Investments says decides to discontinue the $650-million investment in Air Canada July 9, 2004
Air Canada accuses WestJet of spying by stealing confidential information from an employee website. WestJet doesn't deny the accusation. As a result,The vice-president of strategic planning for WestJet later resigns. Air Canada seeks $220 million in damages from WestJet. WestJet president Clive Beddoe apologizes on behalf of the company. Aug. 11, 2004
Air Canada says it will be ready to emerge from bankruptcy protection on Sept. 30, after resolving some financial disputes with its unions. Air Canada announces a new board of directors, which will oversee the airline once it emerges from bankruptcy protection. Montie Brewer is appointed president and CEO of Air Canada.  Sept. 30, 2004: 
Air Canada emerges from 18 months of bankruptcy protection. Air Canada's shares begin trading again on the TSX.  FROM 2006 - PRESENT THINGS GET VERY BORING SOOOOOOOOOO................... Feb. 15, 2005:
Air Canada IS accused of avoiding dealing with human rights complaints against the company during its bankruptcy protection. By: Hariesh Jeevarajah
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