_| TCA |_ B E T W E E N Y O U R S E L V E S
_|\| AIR |/|_ N E T L E T T E R
> CANADA <
>_./|\._< for Air Canada retirees
Mailing of this "NetLetter" is courtesy of Alan Rust
administrator of the "AC Family Network" at:
Number 417 Date Oct 21st, 1999 BYN 1st Published in October 1995
. The editors of the NetLetter are pleased to send you the
following message -
An open letter to all Air Canada Pionairs
As you are all aware, Air Canada has now countered the hostile Onex
offer to buy Air Canada and merge it with Canadian Airlines International.
It is a complex offer with much debate to follow in the financial community.
For the Pionairs, the one key element of Robert Milton's speech was his
statement to .....retain.... the present Air Canada Board of Directors.
I have spoken strongly on the importance of this matter while visiting
Pionair groups across Canada and in the United States.
As I stated... improved Pionair pension, health care and travel benefits
relied on a 'Pionair friendly' board of directors.
These improvements would be at risk under an Onex Board which
Gerry Schwartz has said, on a number of occasions, will replace the
present Air Canada Board of Directors if his takeover attempt is successful.
Today's Air Canada offer , in my opinion will be well received by the
shareholders, but more importantly, for the Pionairs, it's a great counter
attack in a winning strategy.
The battle isn't won, but the total picture has brightened considerably.
" ' "
. That's it for this time, please we need your input, send
comments and email addresses of any others who may be
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