Kip Powick Posted April 9, 2004 Share Posted April 9, 2004 Onex is back..... http://www.torontostar.com/NASApp/cs/ContentServer?pagename=thestar/Layout/Article_Type1&c=Article&cid=1081462212548&call_pageid=968350072197&col=969048863851 Link to comment Share on other sites More sharing options...
Guest GDR Posted April 9, 2004 Share Posted April 9, 2004 April 3, 2003 Texas Pacific may invest in Air Canada Fort Worth-based private equity firm Texas Pacific Group is in early talks to invest in Air Canada, which filed for bankruptcy protection earlier this week, according to a report Thursday from CBS.MarketWatch.com. "Air Canada is a good franchise and management has been strong in a difficult environment," spokesman Owen Blicksilver was quoted as saying. However, he said it is too early to tell if a deal will be completed. Air Canada, Canada's dominant carrier, filed for bankruptcy after failing to get its unions to agree to permanently cut $650 million in annual labor costs. GE Capital has agreed to supply C$1.05 billion in debtor-in-possession financing. Texas Pacific Group is no stranger to turning around bankrupt airlines. The firm invested in Tempe, Ariz.,-based America West (NYSE: AWA) and Houston-based Continental Airlines Inc. (NYSE: CAL) during the 1990s when those two airlines were operating under bankruptcy. Last September, the group lost out in its bid to take control of US Airways Group Inc., which emerged from bankruptcy this week. Earlier this year it was also said to be interested in investing in United Airlines. Most recently, Texas Pacific led a consortium of investors to buy Burger King for $1.5 billion from Diageo Plc. © 2003 American City Business Journals Inc. Link to comment Share on other sites More sharing options...
Guest Airmail Posted April 9, 2004 Share Posted April 9, 2004 TPG says: "management has been strong in a difficult environment". Interesting indeed. That's how many investors who have endorsed AC management? - Trinity Time/Victor Li - GECAS - TPG Amazing how everyone willing to risk their capital in AC also says that they're supportive of AC management. Link to comment Share on other sites More sharing options...
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