Air Canada Bankruptcy Announcement Pending ????

[a78jumper]

The national TV news programs are announcing that the Canadian federal government is about to bail out Air Canada to the tune of Cdn$500-600 million, but only if the company enters into bankruptcy protection, similar to Chapter 11 in the USA. AC is $13 billion in debt, having started with a debt free company when it went public in 1988! Also announced was the fact that Robert Milton would have to "restructure" the company again; given its performance, I think it is time he is shown the door, but that will likely cost another few million in severance.
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Lesbian fisting

[aerpix]

Sad to hear of another major casualty. Was it not the take-over of Canadian that started all the problems?

Regards,
Peter

[Thomas_Cook_757-200]

Hi,
I do and don't hope AC go bankrupt. I do so that it will give other airlines breathing space but I don't because a lot of people will lose there jobs.

Thanks

Thomas_Cook_757-200

[YVR737]

Sure it will suck if they lose their jobs but the gouvernment better not bail them out!! They made the problems themselves and should solve them without help. It could make a huge dent in the market though.

[a78jumper]

Sad to hear of another major casualty. Was it not the take-over of Canadian that started all the problems?

Regards,
Peter

They already had lost billions before taking over CP and their billions in debt as well. And we all know what has happened to traffic levels since 2000. The war and the SARS scare is not helping matters right now. High user fees, taxes and other add ons have really hurt air travel as well here, especially over shorter distances-the cost of a ticket can double by the time you add all these on. Our coneheaded Transport Minister David Collenette announced yesterday that the help would be in the form of loan guarentees but not outright cash grants. This guy is not to be trusted.
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Bondage Video

[Dash8King]

Air Canada is no longer a crown corporation and therefore should not be given any aid that would benifet them only. I think it would be a good idea to lower taxes but to give them 500 million dollars of taxpayers is stupid(or is it 500 million in loan guaruntees?).