April 18, 1989
American to Bid for Canadian Airline: AMR Corp.'s American Airlines unit is preparing to launch a last-minute bid to acquire Wardair, despite a decision by Canadian regulators to approve a previous bid by Calgary, Alberta-based PWA Corp. Donald Carty, AMR's senior vice president and chief financial officer, said AMR hopes regulators "will give us a little more time to put together the details of a bid." PWA, which owns and operates Canada's second-largest airline, offered to pay $14.53 a share for all of Wardair's Class A and B shares.
July 6, 1989 |
The Canadian government will sell all its shares in Air Canada for $12 Canadian each, John McDermid, minister of privatization, announced today. (A Canadian dollar is currently worth 84 cents in U.S. currency.) The government plans to release a prospectus outlining the sale of 41.1 million shares of the state-owned airline, or about 57% of the outstanding shares. The government began its sale of Air Canada last October when it sold 30.
March 23, 1989 |
GPA Jetprop Ltd. Wednesday gave the Boeing Co.'s de Havilland division its largest order ever, a $425-million deal for 38 Dash 8 Series 300 turboprop planes. The order to the Downsview, Ontario, division of Boeing Canada came the same day that American Airlines ordered 35 commercial jetliners from Boeing Commercial Airplanes in a deal estimated at $1.5 billion.
December 30, 1992 |
American Airlines plans to pay $195 million for a one-third stake in Canadian Airlines International and help administer the struggling carrier under a 20-year contract, the two companies said Tuesday. The unusual deal, which American valued at more than $2 billion, marks the latest international alliance in an industry that has suffered through two years of economic downturn, weak travel demand and record losses. Calgary, Alberta-based PWA Corp.