AIR CANADA LANDS DEALS TO SECURE $1 BILLION

"Cash-strapped Air Canada has raised more than $1 billion in new financing from a range of financial and industry sources in a bid to avoid its second filing for bankruptcy protection in less than six years... 'This is an important piece to keep them going,' said Karl Moore, a business professor at Desautels Faculty of Management at McGill University. 'It doesn't guarantee that they won't go into CCAA in six months or a year - that depends on business conditions - but it certainly gives them quite a bit of breathing room.'"

Toronto Star, July 30, 2009