Air Canada draws down about C$1 billion under lines of credit

By Sarah Lizee

Olympia, Wash., March 30 – Air Canada drew down about C$1 billion under its operating lines of credit to provide for additional liquidity, according to a press release.

Air Canada said it also implemented a company-wide cost reduction and capital deferral program, targeting at least $500 million.

Air Canada is a Montreal-based airline company.

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