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McCarran carrier bankrupt

Tuesday, April 1, 2003 | 11:28 a.m.

TORONTO -- Air Canada said today it was filing for bankruptcy protection from creditors, seeking time to reorganize its business and negotiate concessions from unions and help from the government.

Shares in Canada's dominant airline hit a new 52-week low Monday.

The move means Air Canada will continue flying during a reorganization period, but shows its difficulty coping with the industry downturn after the 2001 terrorist attacks now exacerbated by the war in Iraq and mystery illness spreading from Asia.

Air Canada offers the most nonstop round trips between Canada and McCarran International Airport with 11 flights a week between Toronto and Las Vegas. The airline competes on the route with America West Airlines, which has four nonstop round trips a week between Toronto and Las Vegas.

The only other carrier with nonstop flights to and from Canada is Alaska Airlines, which has daily nonstop round trips between Las Vegas and Vancouver, British Columbia.

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