GELCO <GEL> TO SELL CANADIAN COURIER UNIT Gelco Corp said it signed a letter of intent to sell its Canadian courier unit, Gelco Express Ltd, to Air Canada for about 54 mln dlrs (U.S.). It said consummation of the transaction depends on execution of a definitive agreement, which is expected in May. As part of its restructuring plan, Gelco had announced that it would sell four business units. Gelco Express Ltd was one of the companies scheduled for divestiture.