AIR CANADA TO LAUNCH A LOW COST AIRLINE

National media have speculated that Air Canada is planning to launch a discount carrier to fly to holiday routes in Mexico, the Caribbean and Europe. The Globe and Mail have reported that Air Canada pilots are being asked to approve a tentative agreement that includes a letter of understanding that creates a new wage rate for a discount carrier. However the airline has not confirmed plans to launch any such carrier. Nevertheless, shares in competing airlines have taken a hit. Shares of Transat fell 3.87% yesterday on the Toronto Stock Exchange, while WestJet shares lost 20 cents. Shares in Air