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What's the latest w/Air Canada bankruptcy?

What's the latest w/Air Canada bankruptcy?

Old Apr 28th, 2003, 06:34 AM
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What's the latest w/Air Canada bankruptcy?

My family has tickets on Air Canada to from Charlotte NC to Paris on July 1 and am wondering what the word on the street is regarding their operations due to bankruptcy protection. Web site says business as usual, but what else would they say. We're connecting in Toronto and I'm worried more about this than SARS.
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Old Apr 28th, 2003, 07:23 AM
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I donyt think anyone in Canada believes that Air Canada will go out of business. It will come out of restructuring with shareholders having lost all their investment, many businesses to whom Air Canada owes money will get a few cents on the dollar, taxpayers will be on the hook for something, loan guarantees if not real money, and there will be fewer employees earning less money. Maybe Gerry Schwartz will own the company.

Hopefully, there will be a board of directors that will do its job. Robert Milton will need to be sacrificed, but he will come out golden, with a nice job at some US airline. Hopefully, the airline will develop a mandate to compete by providing quality service profitably, not by anti-competitive predatory pricing, as in the recent past.
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Old Apr 28th, 2003, 08:47 AM
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The Gov't of Canada will not let them go out of business because then Canadians would be stuck in Canada. We have a few charter airlines, but with all of them combined they only have like 60 or 70 planes. Air Canada has to operate, plan and simple.
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Old Apr 28th, 2003, 09:26 AM
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I absolutely agree with the above 2 posters - the government won't let Air Canada fail, but they are pulling back on some routes so it's possible your itinerary may change, but that's not much different than the situation with many US carriers right now.

On its web site Air Canada says they update their timetables every Friday - you might want to check it then. Also - you can sign up for a mobile alert (30 days before departure) that sends you a text message if the departure changes - that might be a way to learn early if the schedule changes.
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Old Apr 28th, 2003, 09:40 AM
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I have Air Canada Tickets for August which are non-refundable and I have no choice but to hope for the best.

We have to encourage people to continue buying tickets from Air Canada if we don't want them to close down..

I think that if the Government let Air Canada go bankrupt then another company will pick up the profitable routes. The problem is the non-profitable routes...The Canadian government will have to decide if it wants to subsidy these routes.

The governement is spending our tax money - What would you want them to do with our money? Subsidy Air Canada? I think that the Unions will have to do their share also
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