- Friday, September 11, 1992 ~ North Shore News

Collins disappointed over new airline merger

WEST VANCOUVER-Howe Sound Tory MP and
Associate Minister of Defence Mary Collins voiced disap-
pointment Thursday over news of a failed bid by Canadian
Airlines employees to buy into the company in an effort to
stave off a merger between Air Canada and PWA Corp.,
the parent company of Canadian Airlines.-

A new merger deal announced 7
Wednesday will establish a By Michael Becker
News Reporter

holding company for the opera-
tion of both airlines.

According to B.C. Finance the Van-

Minister Glen Clark,

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couver area will Jose 1,900 jobs as
a result of the merger.

An employees’ council proposal
to PWA entailed a 20 employee
($150 million) share purchase plan
and an affiliation with AMR
Corp., the parent company of
American Airlines.

The plan would have resulted in
the estimated loss of 1,000 Cana-
dian Airlines jobs in the Van-
couver area.

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Weeks ago the federal govern-
ment announced a commitment to
purchasee three A-310 aircraft
from Canadian. Provincial gov-
ermments were asked to guarantee
bank loans as bridge financing for
the proposed $150 million
employee share purchase.

Said Collins, ‘‘i’'m disappointed
that they weren't able to do the
separate arrangement. ! met with

the Canadian Airlines groups in-

ad as

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volved in that, and I was hoping
that it would work. | would have
been happier to see Canadian re-
tained and see them develop their
own international alliances and
have Air Canada develop theirs."*

The merger proposal is subject
to federal regulatory review.

Said Collins, ‘tA lot of people
on the North Shore work for the
airlines, so I’ve heard from some

people on the issue as well.”

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