Air Canada secures loan to finance purchase of 16 leased aircraft

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Air Canada said yesterday that that it has "received a commitment" from GE Japan Corp. for a senior secured term loan facility of "up to $170.5 million" that will allow it to finance "a portion of the purchase price" for 16 aircraft that it currently leases and operates. The leased aircraft comprise 12 A319s and four 767-300ERs. It said it plans to buy eight of the A319s and the 767s next year and four of the A319s in 2012.

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