Air Canada Comments on Aveos Restructuring Report.

(From Canada Newswire)

MONTREAL, July 26, 2012 /CNW Telbec/ - Air Canada today provided comments on the fifth report of the Chief Restructuring Officer (CRO) of Aveos dated July 25, 2012. The CRO's latest report provides an update following an agreement reached May 30, 2012 between Aveos and Air Canada in which the airline agreed to arrangements with Aveos to assist the maintenance, repair and overhaul (MRO) firm to find potential purchasers for certain of its divisions.

Following the decision by Aveos in March 2012 to close its facilities in Canada, Aveos proceeded with a court supervised divestiture process of its three primary business divisions in Canada: airframe, engine and component maintenance. Reports by the CRO of Aveos during this process can be found on the website of the court-appointed monitor of Aveos, FTI Consulting: http://cfcanada.fticonsulting.com/aveos/

Components Maintenance

In his July 25th report, the CRO of Aveos advised that Aveos has received …