Canada 3000 Airlines and Related Companies

Background

On November 9, 2001, Canada 3000 Airlines ceased operations. Following this date, Canada 3000 Airlines Limited and several related companies (the "Companies") went bankrupt. The following table summarizes the Companies and their primary activities. PricewaterhouseCoopers Inc. ("PwC") is the Trustee in bankruptcy of the Companies.

Company	Primary Activity
Canada 3000 Inc.	Parent company
Canada 3000 Airlines Limited/Lignes Aériennes Canada 3000 Limitée	Airline
Royal Aviation Inc.	Airline
C3 Aventure Limitée/C3 Leisure (doing business as Canada 3000 Holidays)	Tour operator
Holiday Travel Consultants Ltd. (doing business as Canada 3000 Tickets)	Travel agents
Canada 3000 Sales Limited	General sales agent for Canada 3000 Airlines
Canada 3000 Airport Services Limited	Ground side services (curb to loading ramp)
Royal Handling Inc.	Air side services (curb to plane)

The assets of each of the above Companies have vested in the Trustee, who is obligated to preserve and realize on the assets for the benefit of all creditors, subject to the rights of secured creditors. The Trustee's activities in this regard are dictated by the Bankruptcy and Insolvency Act (the Act) and will be guided by creditor representative to be elected at creditors' meeting and the Courts.

C3 Leisure Limited, Holiday Travel Consultants Ltd. and Canada 3000 Sales Limited, in certain circumstances, were required to put into trust monies received from customers for services not yet provided. PwC has been appointed Judicial Trustee for the trust funds held by C3 Leisure Limited and Holiday Travel Consultants Ltd. and is seeking approval of the Courts to be appointed as Judicial Trustee for the trust funds held by Canada 3000 Sales Limited. Customers, Ticket Holders and Passengers may have claims against these trust funds. These claims can also be made through PwC and further information in this regard can be found in the section of this Web site relating to Customers, Ticket Holders and Passengers.