Guest GDR Posted June 3, 2003 Share Posted June 3, 2003 It is very interesting that once the union contracts have been ratified both AE and the CIBC feel comfortable putting money into Air Canada as an advance on AEROPLAN points. In the case of the CIBC it is 350 million and the amount from AE hasn't been announced. Obviously both companies feel confident, with union agreements in place, that AC will come out of bankruptcy and be successful long term. If they feel confident about the future, it leads me to think that we should too. Even for those who are being laid off it should mean a more sure and a quicker return. Who knows, if things can turn around quickly enough, and with the lower cost structure, some of those lay offs may be cancelled. Here's hoping. Greg Robinson Greg Robinson Link to comment Share on other sites More sharing options...
Guest Santana Posted June 4, 2003 Share Posted June 4, 2003 Not really. Aeroplan will continue if AC buys the farm. Link to comment Share on other sites More sharing options...
Guest Kal Posted June 4, 2003 Share Posted June 4, 2003 Don't want to rain on the parade but the first quarter just ended. The home team just about defaulted the field. Tough sloggin ahead my friend. Here's a sample: "Air Canada's lessors have attended one meeting, last Thursday in New York. "They came in and said, 'Here's the deal. Here is what we can afford. If you don't like it, come pick up your planes,' " one lawyer said. Another source close to an Air Canada lessor described the New York meeting as "appalling," adding: "The gist is that [Air Canada] is nowhere close to having a working business plan." Link to comment Share on other sites More sharing options...
Guest GDR Posted June 4, 2003 Share Posted June 4, 2003 Aeroplan will continue without AC, but both CIBC and American Express are putting hard cash into AC as soon as the contracts are ratified. They would not be doing that without the confidence that AC would successfully emerge from the bankruptcy process. Link to comment Share on other sites More sharing options...
Guest Otter Posted June 5, 2003 Share Posted June 5, 2003 I seem to recall reading a few weeks ago, in one of Air Canada's statements, that they had just hired this whizbang firm that was going to put together the company's plan for restructuring. The article went on to say that the plan would not be ready until 01 Jul. Seems to me the same plan @ Continental, with its 5 steps to success, took one hell of a lot less time to create. So why should we be surprised that there does not appear to be a plan??????? Link to comment Share on other sites More sharing options...
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