Soros entering the competition for Air Canada

George Soros, the major backing behind the launch of JetBlue, may throw his hat into the ring for bankrupt Air Canada.

    It is believed Soros’s main rivals are Texas Pacific Group LP, a firm that specializes in investing in distressed airlines, and Cerberus Capital Management Inc., a player in the world of high-yield distressed debt. In recent days, both have advanced to Air Canada’s shortlist of prospective investors.

    It’s been speculated Cerberus and Texas Pacific, both U.S.-based, might try to circumvent Canadian laws capping foreign ownership of airlines at 25 per cent by partnering with the likes of Onex Corp. of Toronto, or perhaps Quebec’s public-pension-management agency, la Caisse de d

About Gary Leff

Gary Leff is one of the foremost experts in the field of miles, points, and frequent business travel - a topic he has covered since 2002. Co-founder of frequent flyer community, emcee of the Freddie Awards, and named one of the "World's Top Travel Experts" by Conde' Nast Traveler (2010-Present) Gary has been a guest on most major news media, profiled in several top print publications, and published broadly on the topic of consumer loyalty. More About Gary »

More articles by Gary Leff »

Leave a Reply

Your email address will not be published. Required fields are marked *