Adds context Oct 16 (Reuters) - Air Canada'sAC.TO president
Adds context
Oct 16 (Reuters) – Air Canada’sAC.TO president and chief govt officer, Calin Rovinescu, will retire subsequent February after 11 years within the prime job, the corporate stated on Friday, because the provider grapples with historic turmoil within the airline tradetriggered by the coronavirus pandemic.
Deputy CEO and Chief Monetary Officer Michael Rousseau will succeed Rovinescu upon his retirement, the airline stated. (https://refini.television/3k8aE5F)
Like carriers around the globe, Canada’s largest airline has been hard-hit by strict journey restrictions and slumping passenger visitors amid the pandemic, though the airline has raised round C$6 billion ($4.55 billion) of incremental liquidity.
“Whereas COVID-19 has decimated the worldwide airline trade, thankfully we entered the pandemic a lot more healthy than virtually every other airline on the earth because of our sturdy steadiness sheet, monitor file and engaged workforce,” Rovinescu stated in an announcement.
Rovinescu served as an outspoken advocate to safe assist from the Canadian authorities for the nation’s airline trade, though no particular bundle has but been introduced. He additionally led the corporate by way of a deal to accumulate Canadian leisure group Transat A.T.
Air Canada shares had been down 7 cents at C$15.45 in morning commerce in Toronto.
($1 = 1.3201 Canadian {dollars})
(Reporting by Shreyasee Raj; Enhancing by Ramakrishnan M. and Steve Orlofsky)
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