Creditors distressed by Air Canada

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Air Canada’s bondholders and bank creditors are struggling to improve their position in the company’s restructuring negotiations. Air Canada filed for bankruptcy protection on April 1 with C$1.8 billion ($1.3 billion) of bond debt outstanding, $600 million of which is US dollar denominated and C$900 million ($650million) bank debt.

Since then the airline has been in negotiations with stakeholders for a financial restructuring. But a series of blunders have irked investors.

In July, Ai

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