Rhys Eyton Death – Former President and CEO of Canadian Airlines International Rhys Eyton sadly passed away. He died on surrounded by loved ones. Time Air Historical Society ,made the news of his death known in a post that says “It is with great sadness that we share the new of the passing of Rhys T. Eyton, former CEO of Canadian Airlines. The actual cause of his death has nit been known at the time of this publication.
Rhys Eyton Birth and Education
He was born in 1935 and raised in the city of Vancouver, in the province of British Columbia. Rhys received a bachelor’s degree in business from the University of Western Ontario after completing his studies in commerce at the University of British Columbia. It should not come as a surprise that an intelligent and young graduate like Rhys was quickly able to find a work at London Life Insurance given that Western, which had its headquarters in London, Ontario, had deep ties to the insurance business.
It was in 1963 when he started working as an accountant with Thorn Riddell and Co. Rhys, on the other hand, had the desire, as he put it, “to do something more demanding,” so he started attending evening classes for a certified accountant’s degree. Rhys’s hard work paid off when he happened to cross paths by coincidence with the chairman of Pacific Western Airlines, Bruce Samis.
Rhys Eyton Career
Samis was adequately impressed by Rhys’s training as well as his demeanor. In 1967, Samis extended an employment offer to him at PWA. Central British Columbia Airways, the airline that had been founded in 1946 by ‘Russ’ Baker (CAHF, 1975), had experienced consistent expansion during the postwar years. When Rhys was employed, the company had already grown to become the largest regional provider in Canada and the third largest air carrier in the country overall. Rhys began his career by working in the Finance (Treasury) area. There, he impressed senior management, including president ‘Don’ Watson (CAHF, 1974), and after approximately nine months on the job, he was transferred to the northern division of PWA, working out of Edmonton as the Assistant Director.
In 1989, Rhys was given the roles of Chairman, President, and Chief Executive Officer at Canadian Airlines International. Strong global and domestic aviation currents, as well as constant change within these currents, would once more require Rhys to take an active role in defining the future of Canadian Airlines. In 1994, he led one of the greatest financial restructurings that had been completed with the consent of all parties involved in this country. This restructuring involved creditors from all over the world, employees, and governments at all levels. A significant portion of the company’s debt was converted into stock as part of the reorganization, which was finally approved by the federal regulator.
Additionally, American Airlines and its workers participated in a share purchase program in order to contribute fresh equity to the company. The ensuing “new start” balance sheet positioned the company for future expansion and allowed Rhys Eyton to depart from his job as CEO, which he had held for 18 years. Rhys Eyton became the non-executive Chairman of the company in April of 1995.
Rhys Eyton’s obituary will be released by the family
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