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Air Canada Promotes Company Insider to CFO

Dec. 15, 2020 7:42 pm ET Air Canada promoted an internal candidate to the role of the finance chief as the airline battles a severe downturn in travel due to the coronavirus pandemic. The Montreal-based carrier, which flies domestic and international routes, on Tuesday said it appointed Amos Kazzaz, the company’s senior vice president for finance, as its new chief financial officer, effective Feb. 15. Mr. Kazzaz joined Air Canada in 2010 as vice president of financial planning and analysis. In 2015, he became senior vice president of finance. Before Air Canada, Mr. Kazzaz spent 24 years at U.S. carrier United Airlines Inc. in various executive roles.

United Airlines Expects Total Revenue to be Down 70% Compared to Year-End Qtrs

United Airlines Expects Total Revenue to be Down 70% Compared to Year-End Qtrs Posted on 12/11/2020 United Airlines, Inc., a wholly-owned subsidiary of United Airlines Holdings, Inc., continues to see a significant impact in demand for air travel. In the last month, ended December 10, 2020, there has been a continued deceleration in forward bookings as a result of the spike in COVID-19 cases and travel restrictions. As such, United Airlines now expects total revenue to be down close to 70% in the fourth quarter of 2020 as compared to the fourth quarter of 2019. United Airlines now expects average daily cash burn during the fourth quarter of 2020 to be approximately $24 million to $26 million, plus $10 million of average debt principal payments and severance payments per day, driven by the continued deceleration in bookings, as well as a change in working capital which was due to a shift in timing of certain payments and receipts between quarters. For this purpose, “cash burn”

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