Air Canada chooses a new equity investor

[dArKeR]

Montreal — Businessman Victor T.K. Li will lead Air Canada's struggle to emerge from bankruptcy restructuring.

Trinity Time Investments, controlled by Li, was chosen as the insolvent airline's new equity partner Saturday by Air Canada's board of directors.

$1.1-billion will be invested in a new Air Canada, with $650-million in an equity investment to come from Mr. Li and $450 million from a rights offering.

Mr. Li's investment represents 31 per cent of the common equity in the restructured airline.

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