PAL Airlines, a subsidiary of Exchange Income Corporation has completed a Letter of Intent (LOI) with Air Canada to formulate a commercial agreement leading to the provision of regional air services in eastern Canada. As a part of the agreement PAL would acquire up to six additional Dash 8-400 aircraft to be operated on behalf of Air Canada for a term of up to five years on regional routes in eastern Canada These routes would be in addition to the existing PAL Airlines scheduled and charter network throughout Eastern and Atlantic Canada. “PAL Airlines has steadily built its extensive presence

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