Li walks from plan to rescue Air Canada

[dArKeR]

By JOHN PARTRIDGE,PAUL WALDIE, ANDREW WILLIS,SIMON TUCK
From Saturday's Globe and Mail

Air Canada's long, troubled rescue began unravelling Friday as Hong Kong businessman Victor Li signalled that he is walking away from his planned $650-million investment because of the insolvent airline's uncertain financial prospects and a confrontation with labour unions.

As Canada's biggest airline began looking for another investor, both it and its unions reassured travellers that operations would not be affected and they would not be left stranded.

Observers, however, warned that liquidation of the airline is a possibility after Friday's developments.

http://theglobeandmail.com/servlet/story/RTGAM.20040403.wxairc0403/BNStory/Front/