OTD: Air Canada announces job cuts

On today’s date in 2003, Air Canada announced plans to cut 3,600 of its 35,000 jobs—10 per cent of its work force—as the Iraq War worsened an ongoing travel slump.

According to a story published in The Globe and Mail on March 31, 2003, the airline also acknowledged severe acute respiratory syndrome (SARS), which was taking a toll on travel, and an analyst published a report stating the airline’s shares were “effectively worthless.”

“The Canadian Auto Workers and the union representing machinists and baggage handlers revealed Monday they will lose more than 2,300 jobs as their share of 3,600 job cuts announced March 20 as Air Canada copes with a recent decline in passenger traffic caused by the Iraq war,” reads the 2003 story.

By December 2003, Air Canada had filed for and was granted court protection from its creditors—commonly referred to as bankruptcy protection.

Another medal struck in 1976 commemorates Air Canada’s first flight to Cuba, which took place on May 28, 1976.

AIR CANADA MEDALLIONS

In Air Canada’s 1964 annual report, the airline mentions its decision made earlier in the year to commission the Royal Canadian Mint to strike a series of nickel medallions.

Throughout the 1970s, Air Canada issued medallions commemorating its inaugural flights to certain destinations, including one issued for the 25th anniversary of the inaugural Montreal-Paris flight and one for the inaugural flight to Cuba on May 28, 1976. The medals measure roughly 32 mm in diameter and are made of silver.

The commemorative Montreal-to-Paris medal depicts a javelin thrower and the Eiffel Tower alongside “Anniversary 25 Anniversaire, Paris Montreal Air Canada”. The opposite side shows a maple leaf and the year-date.

The commemorative Cuba medal depicts flowers engraved over a map of Cuba with the date “28-5-76”. The opposite side depicts a maple leaf alongside “Vuelo Inaugural, Inaugural Flight, Vol Inaugural”.

Leave a Reply

Keep up to date with the numismatic community

Sign up to receive our newsletter.

Canadian Coin News

Canada

Canadian Coin News is Canada's premier source of information about coins, notes and medals.

Although we cover the entire world of numismatics, the majority of our readers are Canadian, and we concentrate on the unique circumstances surrounding collecting in our native land.

Send Us Your Event

Running an event? Send it to us and we will display it on Canadian Coin News!

Submit Event →

Subscribe To 26 Issues For Just $45.75/year

Subscribe today to receive Canada's premier coin publication. Canadian Coin News is available in both paper and digital forms.

Subscribe Now

We acknowledge the financial support of the Government of Canada through the Canada Periodical Fund of the Department of Canadian Heritage.