Canadian North’s new owner, EIC, says no immediate changes to flights or fares are planned, as community talks begin and regulators approve the sale.
Canadian North Sale Finalized After Federal Approval
The sale of Canadian North Airlines to Exchange Income Corporation (EIC) has been finalized following the green light from the Competition Bureau and Transport Canada. The Winnipeg-based EIC, led by President Carmele Peter, officially took over the airline last month after months of regulatory review.
No Immediate Plans to Alter Routes or Prices
Peter confirmed there are no immediate plans to change Canadian North’s current routes, frequencies, or ticket prices. However, she acknowledged that aviation costs have risen significantly and future pricing adjustments may be considered based on economic need.
“Ultimately, we’ve seen significant aviation inflation,” Peter noted. “We’ll evaluate flight costs and act where necessary — but not right away. We’ll do our homework first.”
Community Consultations on Future Improvements
As part of its integration strategy, EIC plans to meet with local communities and stakeholders across the North. The aim is to understand regional needs and identify opportunities to improve service quality and accessibility.
Peter emphasized the importance of maintaining strong community ties in a region where air travel is essential. “Engaging with the communities we serve will guide our decisions,” she said.
Competition Bureau Confirms No Market Overlap
The transaction raised no major red flags for the federal Competition Bureau. Spokesperson Geneviève Chassé confirmed the deal had been reviewed and allowed to proceed, although specific details remain confidential due to regulatory protocols.
The Bureau assessed whether the acquisition would reduce competition in northern air travel, ultimately determining it would not. EIC already owns several regional aviation firms, including Calm Air and Perimeter Aviation, which operate in different service areas from Canadian North.
Distinct from 2019 Airline Merger
Peter differentiated this acquisition from the controversial 2019 merger between the “old” Canadian North and First Air — a deal that effectively created a monopoly in Nunavut and prompted Competition Bureau warnings.
“There is no elimination of competition here,” Peter stated. “It’s a change in ownership, not a reduction in airline options.”
Broader Calls for Competition in Northern Skies
The Competition Bureau has recently flagged northern air travel as a sector in need of more competition. In a recent report, it encouraged federal efforts to promote more choice, lower prices, and expanded connectivity for remote communities.
While Canadian North’s ownership has changed hands, stakeholders and travelers alike will be watching closely to see how service and pricing evolve under EIC’s stewardship.
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