George Soros, the major backing behind the launch of JetBlue, may throw his hat into the ring for bankrupt Air Canada.
- It is believed Soros’s main rivals are Texas Pacific Group LP, a firm that specializes in investing in distressed airlines, and Cerberus Capital Management Inc., a player in the world of high-yield distressed debt. In recent days, both have advanced to Air Canada’s shortlist of prospective investors.
It’s been speculated Cerberus and Texas Pacific, both U.S.-based, might try to circumvent Canadian laws capping foreign ownership of airlines at 25 per cent by partnering with the likes of Onex Corp. of Toronto, or perhaps Quebec’s public-pension-management agency, la Caisse de d
