March 30 (Reuters) - Air Canada AC.TO mentioned on Monday it should lower second quarter capability
March 30 (Reuters) – Air Canada AC.TO mentioned on Monday it should lower second quarter capability by 85%-90%, place about 15,200 unionized workers off responsibility and furlough about 1,300 managers because the coronavirus pandemic takes a toll on international journey and aviation.
The airline mentioned it’s drawing down about $1 billion in credit score to bolster liquidity whereas senior executives will forgo between 25%-50% of their wage and board members agreed to a 25% lower.
(Reporting by Rachit Vats in Bengaluru Modifying by Chris Reese)
(([email protected]; inside U.S. +1 646 223 8780, exterior U.S. +91 80 61822828; Reuters Messaging: [email protected]))
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.