Air Canada May Be Headed For Bankruptcy

Law360, New York (February 17, 2009, 12:00 AM EST) -- Air Canada may soon be forced to file for bankruptcy if it fails to secure additional financing or renegotiate covenants in credit card agreements, UBS AG analyst Fadi Chamoun said in a research note.

The analyst’s report, released Friday, said Canada’s largest domestic airline could fall far short of needed cash if it does not sell additional assets.

While the airline industry is no longer facing the dramatic spikes in fuel costs it was forced to handle last year, Chamoun wrote that cash from the airline’s...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.