Canadian Airlines International Ltd. was, from 1987 until 2001, Canada's second largestairline after Air Canada, carrying more than 11.9 million passengers to over 160 destinations in 17 countries on five continents at its height in 1996. Canadian Airlines served 105 destinations in Canada, more than any other airline.
Canadian Airlines was headquartered in Calgary, Alberta,[1] and had revenue of approximately $3 billion at the end of 1999. The airline and its planes were acquired by Air Canada in 2001.
Canadian Airlines International Ltd., which was the principal subsidiary of Canadian Airlines Corporation (formerly PWA Corporation), was the descendant of five predecessor airlines. On March 27, 1987, Canadian Pacific Airlines, Eastern Provincial Airways, Nordair andPacific Western Airlines amalgamated to form the new airline.
PWA Corporation acquired Wardair in 1989, establishing Canadian as an important player in the global industry with the addition of new routes. Its major hubs were at Montréal-Dorval International Airport (now known as Montréal-Pierre Elliott Trudeau International Airport),Toronto Pearson International Airport, Vancouver International Airport, and Calgary International Airport. Canadian Airlines streamlined its operations and went through the financial restructuring of over $700 million in debt, after the 1991 airline industry slump.
On November 1, 1996, Kevin Benson, then president and CEO, unveiled a restructuring strategy to improve the profitability of Canadian Airlines. The operational restructuring plan was supposed to be phased in over a four year period, addressing the main issues of cost control, revenue growth, capitalization and fleet renewal. It was also one of the founding members of the Oneworld airline alliances, along with American Airlinesand British Airways. The plan started off well but with the Asian economic downturn 1998, air traffic decreased and Canadian was suffering on what was previously its most profitable route.
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CP | CDN | CANADIAN |
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