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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge

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To: vds4 who wrote (4605)	11/5/2001 6:54:13 AM
From: Al Collard	Read Replies (2) of 11802

AC-t...in the news. NP says no aid for Air Canada forthcoming from Ottawa Mon 5 Nov 2001 The National Post reports in its Monday, Nov. 5, edition that Air Canada will not receive a federal bailout unless it can show it would shut down without the aid and private-sector investors come forward first, says David Collenette, the Minister of Transport. The Post's Ian Jack writes that Mr. Collenette says: "I don't believe Air Canada is in a position right now where it needs a loan guarantee from government. Obviously it's not going to close the doors tomorrow. It has assets, it has cash," The news is a blow to the airline's hopes of lining up private-sector financing, which it said Friday depended on first getting a commitment of government money. Air Canada wants government assistance in proportion to the $15-billion (U.S.) that United States carriers received from Washington after Sept. 11. Air Canada has about $900-million (Canadian) in cash but analysts expect a loss this year of as much as $1-billion (Canadian), most of it related to the economic slump and the after-effects of Sept. 11.

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