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TELEMARKER on Aug 07, 2024 4:31pm
stockwatch.com
Globe says Air Canada supports high-speed rail service
2024-08-07 07:11 ET - In the News
The Globe and Mail reports in its Wednesday edition that previous attempts to establish high-speed passenger rail service in the Toronto-Quebec City corridor have been opposed by Air Canada. The Globe's Konrad Yakabuski writes that given its importance to the national economy, Air Canada has held a virtual veto over policy decisions made in Ottawa affecting Via Rail, the country's Crown-owned, but deficient, passenger rail service. Fears that real competition from Via could undermine Air Canada's financial viability always derailed past proposals for faster trains. When Air Canada filed for court protection from its creditors in 2003, Ottawa prioritized the airline's survival over high-speed rail. Fast forward two decades and not only is Air Canada flying high, but it has ditched its opposition to faster passenger rail service and jumped on board Ottawa's plan to invest billions in Via's proposed high-frequency rail (HFR) project in the Toronto-Quebec City corridor. Air Canada's change of heart could clear the tracks for what Via HFR calls the largest infrastructure project in recent Canadian history. Air Canada has joined one of the three consortiums responding to Via's request for proposals to build an HFR network.
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