Inuit company buys controlling stake in Air Labrador
CBC News
Posted: Feb 4, 2012 12:53 PM NT
Last Updated: Feb 5, 2012 3:08 PM NT
Related
External Links
(Note:CBC does not endorse and is not responsible for the content of external links.)
A majority stake in Air Labrador has been purchased by the economic development arm of Nunatsiavut. (CBC)The Inuit goverment in Labrador has bought a controlling stake in an airline that provides many of the flights in the region.
NGC Nunatsiavut Inc., the economic corporation of Nunatsiavut, has bought 51 per cent of Air Labrador.
The deal was announced Friday in Ottawa at the Northern Lights trade convention, which is promoting economic opportunities in Canada's north.
The purchase price was not disclosed.
"The addition of Air Labrador to our family allows the Nunatsiavut Group of Companies to offer integrated transportation and logistics solutions to those wanting to carry out projects in the region," NGC Nunatsiavut president James Thorbourne said in a statement.
Air Labrador president Philip Earle welcomed the transaction, which he said marks "a new beginning for a new partnership which will allow the company to embrace existing and future economic activities within the Labrador Inuit settlement area and the region served by our airline."
Share Tools
Latest Nfld. & Labrador News Headlines
- Strike continues at St. John's airport
- The nine-month-old strike at the St. John's International Airport continues to drag on. more »
- New park in Labrador City not scoring goals with everyone
- The Harrie Lake subdivision has a new park, replacing another playground that was demolished to pave the way for new homes. more »
- Dover woman's trial on sex charges to take place in January
- Susanna Collins, a Dover woman charged with sexually exploiting a teenage boy, will go on trial in January 2014. more »
- N.L. may release royalty info now blocked by Bill 29
- The Newfoundland and Labrador government could reverse a decision legislated last year and release details in the future on royalties paid to the provincial treasury. more »
Must Watch
Top News Headlines
- Obesity called a disease by U.S. doctors group
- The American Medical Association has voted to recognize obesity as a disease, while doctors in Canada say they also treat it as such. more »
- Neil Macdonald: Washington's obsession with leakers
- Julian Assange and Edward Snowden are just the most prominent targets in an all-out legal and propaganda campaign that America's security apparatus is mounting against leakers everywhere, Neil Macdonald writes. more »
- How open is Ottawa's new 'open data' website?
- Treasury Board President Tony Clement is touting the federal government's revamped data portal as a "new natural resource." But that online window for previously published data arrives at the same time the government faces controversy over just how open it really is. more »
- 30,000 Canadians are homeless every night
- A new national report into homelessness in this country tells a grim story — at least 200,000 Canadians experience homelessness in any given year and least 30,000 Canadians are homeless on any given night. more »
- Statoil makes 2nd find in new frontier off Newfoundland
- Dover woman's trial on sex charges to take place in January
- N.L. may release royalty info now blocked by Bill 29
- Judge considers new evidence in shaken-baby case
- 4-year prison sentence for pizza man, gas station robberies
- Peace and quiet costs about $4K for St. John's resident
- EI reforms opposed in Atlantic Canada, poll finds
- Dover woman to stand trial on sex charges
- Police believe cyclist saw fatal crash
