May 8, 2009 / 8:02 PM / in 9 years

Air Canada does not need major restructuring - CEO

OTTAWA, May 8 (Reuters) - Air Canada ACa.TO is in a good position to weather the recession, and if not for the downturn the company would require only fine-tuning, said the recently appointed chief executive of the country’s biggest airline.

“My view is that Air Canada is extremely well positioned coming out of a recession and, were it not for a recession, you could tweak the cost side and you’d want to re-engage with the customer, but you would not want to dramatically restructure this company because this company has already been restructured,” Calin Rovinescu told Reuters in an interview.

Air Canada said earlier on Friday that its quarterly loss deepened by 39 percent as travel demand continued to weaken. It said the difficult conditions will continue through 2009.

It has identified C$250 million ($217 million) in savings it can realize over the next 18 months and intends to get more savings from suppliers, Rovinescu said.

$1=$1.15 Canadian Reporting by Susan Taylor; editing by Rob Wilson

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