Air Canada has boosted capacity on its Sydney-Vancouver route, following bigger than expected traffic over the last year. The route will be serviced by a Boeing 777-300 from October 2014, adding 79 Economy Class to the route each day.Air Canada general manager Australia and New Zealand Paul Mclean said the decision was the first time the airline would hvae upgraded aircraft on the route for an extended period of time.“We have in the past met seasonal demand by offering additional flights for short periods in December and January, traditionally the peak periods for Australians visiting Canada’s ski fields,” Mr McLean said.“This is the first time, however, that we have upgraded to a larger aircraft and done so for an extended period of time.It reflects Australian travellers’ sustained interest in Canada as an exciting year-round holiday destination and as a convenient gateway to America.”Air Canada offers the same amount of Business Class seats in its Boeing 777-300 planes – 42.Source = ETB News: Tom Neale
European media giant Modern Times Group has refinanced its debt arrangement by agreeing to a new SEK5.5 billion (€604.8 million) credit facility and SEK1 billion loan.The new arrangement replaces an existing SEK6.5 billion credit facility due for repayment in October 2015. It is provided by eight international banks and was self-arranged by MTG.MTG – which operates numerous free and pay TV channels across Europe, owns producer Strix and more recently acquired UK distributor DRG and Nordic prodco Novemberfilm through its MTG Studios arm – had net debt of SEK373 million as of September 30, 2013, the company confirmed, which was equivalent to 0.3 times the group’s previous 12 months earnings before interest, tax, depreciation and amortisation.“We have now successfully arranged new long-term financing for the Group at attractive pricing levels. This reflects our healthy growth and strong cash flow generation as well as our good relationships with the banks,” said MTG’s CFO Mathias Hermansson.“The new structure will support our ongoing strategic development, as well as our ambition to explore a potential diversification of funding sources moving forward. We will continue the accelerated pace of our investments ingrowth whilst also continuing to generate healthy total shareholder returns.”Last year, Jørgen Madsen replaced the long-serving Hans-Holger Albrecht. Since then, it has focused on growing its international content business through MTG Studios, which former Zodiak acquisitions boss Patrick Svensk oversees as chairman.