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Article: AIR CANADA'S PROGRAM REPORTEDLY DRAWS BIG ISSUERS.(banks submit bids for Air Canada's card program)(Brief Article)
- Article from:
- Cardline
- Article date:
- May 16, 2003
CopyrightCOPYRIGHT 2003 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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As tomorrow's bidding deadline approaches, three giant U.S. card issuers-Bank One Corp., MBNA Corp. and Citigroup Inc.'s Citibank-reportedly will submit bids for financially troubled Air Canada's card program, according to today's Toronto Globe & Mail. MBNA and Citibank did not return CardLine calls, and a spokesperson for Bank One, the world's largest Visa issuer, declined to comment. Citibank and MBNA Canada are MasterCard issuers. Sean F. Dunphy, a litigation partner with Air Canada's Toronto-based law firm, Stikeman Elliott LP, says he could not comment on the number of bidders. "It's all being done under a seal of confidentiality. If it's one or 21 (bidders) I can't ...