"...AC's Airbus fleet acquisition goes back to the Mulroney era and a certain Mr. Schreiber's 'activities'..."
.
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Actually no.

AC purchased its' first Airbus planes after it had been privatized, thus the government was not a shareholder/influencer.

http://www.nytimes.com/1988/07/21/business/air-canada-in-1.5-billion-deal-orders-34-airbus-aircraft.html