Canadian airlines begin merger talks

First Air and Canadian North are reported to be beginning talks concerning a possible merger. Both are Canadian passenger and cargo airlines serving northern Canada. Makivik Corporation and NorTerra, respectively the shareholders of First Air and Canadian North, have agreed to hold discussions leading to the merger of their operations consistent with a merger of equals, subject to the successful conclusion of negotiations and regulatory review. The potential merger is intended to create a single airline entity that builds on the strengths and identities of the two companies. A merger would improve the sustainability of these critical Inuit birthright enterprises