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The Canada report
By JIM FOX Airline industry told: Don't expect bailoutsThe Canadian government wants the airline industry to be responsible for its own destiny and not expect bailouts. Industry Minister Brian Tobin said it's up to the private sector, not the government, to keep the industry competitive after Canada 3000 went bankrupt last weekend. The country's second-largest charter airline, Canada 3000 was unable to meet strict conditions attached to a $75-million loan guarantee offer. It went out of business with the loss of 4,800 jobs. The airline's business was battered after the terrorist attacks in the United States and it was losing $700,000 a day when it grounded its fleet. A last-minute bid to restructure or find backers failed. The government will consider requests for aid, but it's up to the airlines to restructure their debt and prove they have realistic, long-term, sustainable business plans, Tobin said. Remaining airlines such as Air Canada, Air Transat and WestJet will expand in the wake of Canada 3000 being out of business, leading to more discount fares and competition on more routes, he said. The Association of Canadian Travel Agents wants the government to open the market to allow foreign carriers to establish Canadian subsidiaries. Canadians urged: TravelAn ad campaign costing $20-million will try to convince skittish Canadians to travel within Canada. The Travel Canada campaign involves TV and newspaper ads promoting everything from Canada's mountains and oceans to big-city life. The Canadian Tourism Commission found that many Canadians think travel at home is safe. Travel agents say the biggest challenge is to get people to want to go anywhere since the terrorist attacks. Domestic air travel dropped 17 percent in September and October from a year ago and about 750,000 hotel room bookings were canceled. News in briefThe flu caused Prime Minister Jean Chretien to cancel his visit to Mexico. Chretien, 67, was to speak Thursday at the International Forum on Federalism and meet with President Vicente Fox. The two leaders planned to discuss suggestions from the United States to harmonize North American customs and immigration policies after the terrorist attacks. British Columbia's bid to host the 2010 Olympic Games is being protested by a native group involved in a land dispute with the provincial government. Chief Arthur Manuel of the Neskonlith Indian Band said he will urge the International Olympic Committee to reject the bid from Vancouver-Whistler. Facts and figuresCanada's dollar has gained some strength, rising to 62.98 cents U.S. while the U.S. dollar returns $1.5868 Canadian, before bank exchange fees. The Bank of Canada key interest rate remains 2.75 percent while the prime-lending rate is 4.5 percent. Stock markets are higher, with the Toronto 300 Index at 7,262 points and the Canadian Venture Exchange 3,026 points. Lotto 6-49: (Wednesday) 1, 20, 27, 42, 46 and 48; bonus 32. (Nov. 10) 3, 13, 17, 26, 33 and 35; bonus 23. Regional briefsConvicted oil-patch bomber Wiebo Ludwig has been released from an Alberta jail after serving 19 months for vandalism, including setting a bomb. The religious commune leader thinks oil companies are poisoning the land, people and animals. Over two years, police investigated 160 incidents of vandalism at oil and gas facilities in northwestern Alberta. Former Finance Minister Ernie Eves wants to return to politics to succeed retiring Ontario Conservative Premier Mike Harris. Claiming the support of 14 Cabinet ministers, Eves, now employed with a Toronto law firm and an investment bank, is the first to publicly enter the race.
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