Guest in_the_sky Posted May 25, 2003 Share Posted May 25, 2003 I'm lost here, Air Canada states they lost 5 million a day in April, May probably wont be that much better. From what I gather the company made no lease payments on any aircraft, No payments to Nav Canada, No payments on airport fees or other leases. Given that employee wages are not as much as all those expenses combined that were not being paid if we all worked for free would the company not still loose money given the other expenses? No kidding the model is broken how about a no cofidence vote that managment is unfit to run this comany. One more thing why are the VP's in Air Canada scared to disclose thier salaries and bounses to all, Maybe be because everyone will see how screwed up this whole mess really is. Link to comment Share on other sites More sharing options...
dagger Posted May 25, 2003 Share Posted May 25, 2003 The management question aside, the airline is paying fopr a lot of things. It is now paying NavCda, it is paying leases going forward, it is paying for fuel, it is paying for other goods and services - food, for example. It is paying foreign fees, it is paying for all of its insurance... A lot of debts as of the time of filing for CCAA have been frozen, along with interst payments, but a consider amount of money still has to be spent. As for your contention about wages and working for free, Air Canada pays about $9 million a day in wages, benefits and other compensation related payments. That's based on 2002 numbers, so maybe it is a little less today. But not significantly so. Link to comment Share on other sites More sharing options...
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