Trader

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Trader last won the day on April 17

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  1. Interesting that the airports are raising fees and cutting staff yet their Senior management and BoD's have not taken pay cuts! Same at NavCan - CEO still making $650,000/year and they want to increase fees by 30%. There is STILL a disconnect in this country.
  2. Swoop attempting to find airports willing to subsidize their flights in some manner.
  3. Face Masks Application 9 (1) Subject to subsection (2), sections 10 to 17 apply beginning on April 20, 2020, at 12:00 p.m. Eastern Daylight Time. Exception (2) Sections 10 to 17 do not apply to the following passengers: (a) an infant; (b) a person who has breathing difficulties unrelated to COVID-19; (c) a person who is unconscious; or (d) a person who is unable to remove a face mask without assistance. Notification 10 An operator must notify every passenger that intends to board an aircraft for a flight that the operator operates that (a) the passenger must be in possess
  4. The program pays 75% of an employees wage to a max of approx. $48,000/year (equivalent based on the time period of the program). This is for ALL employees. The result is that when an employer looks at their overall payroll, depending on the wage profile, the top up may be reasonable. An employer receives 75% of the wage of ALL their employees so essentially their wage costs are the amounts above and beyond the 75%/capped amount. An employer has 100 employees all earning $68,000/year. Payroll is $566,666/month. Employer lays off 50% staff, payroll is $283,000. An employer has 100 empl
  5. The program is not for airlines but for all businesses affected by the crisis and it certainly appears to be one means of keeping people solvent and money moving. It ends in June so is an immediate, short term program. Air Canada may not have 'stuff to do' for those workers but other companies will find opportunities. At Flair the staff are being trained in other areas of the operation, being placed into teams to push projects forward, completing more advanced training etc. There are numerous opportunities for a creative company to use the program to pay staff and provide meaningful
  6. And no discussion yet in the media or political arena about the death toll that results from a devastated economy. There were 10,000 suicides in the US attributable to the meltdown in 2008, as people lose jobs the death toll from stress rises, as more people are pushed into poverty the deaths from poorer nutrition etc. That is not to say that we toss out the measures that are being taken, but a clear discourse on the real effects and the 'other' deaths that will occur should be had and understood. I get a feeling that people believe the governments will step in and make it all bett
  7. Some random thoughts: 1. The best estimates are that 50-75% of all people will come down with the virus. The concept of flattening the curve is to spread that out, over time, so that the health care system is not over run. So how are we 'being' safe by not having aircrew (or others) work etc? 2. The worlds infectious disease experts are saying that while they cannot confirm, at the moment, that a person cannot get the virus a second time all of their experience and knowledge suggest that will be the case and once you recover you will not be susceptible to re-infection. So it is
  8. If the recovery doesn't start until September there won't be much of an economy to support airlines in general.
  9. Still no word from the airport authorities other than requests for cash. No layoffs announced there yet. NavCan - CEO makes close to $700,000, no news of executive wage cuts (as elsewhere). No layoffs.
  10. 691 pilots at WestJet/Swoop on lay-off notice. Bad times indeed.
  11. The Fed should also be taking strict action with Nav Canada and the Airport Authorities as I suspect they will follow the same MO as in the past and demand payment or even require pre-payment.
  12. Flair, Cdn North etc. are small, all domestic and have the ability to be nimble and flexible. If anyone is going to take a haircut it will be AC and WJ who won't disappear but will, depending on the length of the situation, be deeply affected especially in the international flying. Swoop, who must be hemorrhaging money, is an easy sacrifice for Onex. Sunwing, who at the moment are not refunding trips (cause it would be negative cashflow), will have to cut back severely and then hope the summer flying in Europe materializes. What will be most interesting is how the Feds (and pr