Air Canada has thus fulfilled its obligations in accordance with the undertakings it negotiated with the Competition Bureau in December 1999 with respect to the divestiture of Canadian Regional Airlines. Canadian Regional Airlines remains a subsidiary of Canadian Airlines International, and therefore an indirect wholly-owned subsidiary of Air Canada, until it is fully integrated into Air Canada's regional operations. I recognize the patience and professional performance of Canadian Regional employees during this difficult time, and I believe this is the best outcome for all. It is an important milestone in Air Canada's restructuring and it eliminates uncertainty while ensuring direct, uninterrupted access to Air Canada's global network in communities from coast to coast. It's business as usual for customers and employees of Canadian Regional Airlines.
Consolidation is the best strategy to ensure a viable regional network with local market focus.
Communities across Canada will continue to benefit from direct access and seamless service to Air Canada's entire network. By bringing together these four strong regional airlines we will be better able to serve our customers and provide security and opportunities for the employees of these companies. Air Canada's regional airlines, AirBC, Air Ontario and Air Nova, and Canadian Regional Airlines, will continue to operate separately, while offering the same benefits to all customers of Air Canada subsidiaries during Air Canada regionals' consolidation, until a common operating certificate is obtained. The consolidated Air Canada regional airlines will continue to have a decentralized organization to maintain a strong presence in all existing regional markets. Calgary and Halifax will develop as strong western and eastern bases complementing existing bases across Canada.