Canadian Airlines Restructures Commission Rates On International Tickets.CALGARY, Alberta--(BUSINESS WIRE)--Dec. 2, 1998-- (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CA.) (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :CA.) (VSE See DOS/VSE. VSE - Virtual Storage Extended :CA.) Canadian Airlines Canadian Airlines International Ltd. was, from 1987 until 2001, Canada's second largest airline after Air Canada, carrying more than 11.9 million passengers to over 160 destinations in 17 countries on five continents at its height in 1996. announced today that it will restructure travel agency commission rates on all tickets purchased for international flights effective January 4, 1999. The change means that tickets issued in Canada for flights to international destinations, on or after January 4, 1999, will earn an eight percent base commission rate with a maximum payment of CAD $140 (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $100) for roundtrip tickets and CAD$70 (USD $50) for one-way tickets. For tickets issued in the United States these changes were effective November 19, 1998. Canadian Airlines commission rates on tickets purchased for flights within Canada as well as to and from the United States, remain unchanged. "Canadian Airlines has a fiduciary responsibility to its shareholders and employees to implement measures that contribute to the success of our airline," said Barbara Amster, Senior Vice-President, Marketing and Sales. "Canadian is matching the industry move to establish maximum international base commission rates to ensure its competitive position in the marketplace." |
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