Westjet slow death.
More layoffs (1000) and cut flight routes.
https://calgaryherald.com/business/loca ... reductions
But I’m sure the feds will help out AIr Canada.
Jan 9th, 2021 9:58 am
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Jan 11th, 2021 10:20 am
For clarity and reality, Air Canada filed for bankruptcy protection, it did not declare bankruptcy. There were significant reasons for it, eerliy similar to todays situations for all airlines.
Jan 11th, 2021 2:36 pm
WestJet is trying to hold on until the government bailout comes in April. If they shut down now, no bailout.
Jan 11th, 2021 2:50 pm
And - the situation is actually far worse now than back then. The difference is the probable <in>ability to attract any new investors to finance a restructure of AC (or WestJet) as a going concern.
Jan 11th, 2021 4:21 pm
On what basis do you say AC and WS are in worse shape than AC / Canadian Airlines back then?robsaw wrote: ↑ And - the situation is actually far worse now than back then. The difference is the probable <in>ability to attract any new investors to finance a restructure of AC (or WestJet) as a going concern.
The other difference for WestJet is that they are a privately held company now with existing investors (via Onex) not likely to accept have their capital wiped-out, which it would be, in a restructuring under creditor protection. Sure, if losses are eventually determined to outweigh any potential future gain - liquidation or sale of assets may be on the table.
Jan 11th, 2021 10:46 pm
Never argue with stupid people, they will drag you down to their level and then beat you with experience.
Jan 12th, 2021 5:36 am
Jan 12th, 2021 12:48 pm
The travel restrictions are much more severe and much longer, hence worse.
And insert another Trudeau puppet. Omar Alghabra???? Transprt Minister??
Yes there is, not just business but cargo, mail, medicines, personal issue. Lots or reasons to keep flying into certain countries.
Jan 12th, 2021 1:01 pm
Sure, but that doesn't equate to their balance sheets necessarily. AC was heavily in debt in the early 2000s and not nearly in as good of shape as it entered the pandemic. I do not disagree at all that this has turned the industry upside down, but I have not seen anything that says AC / WS are in any way in the same place AC/Canadian were back then....yet.
Jan 12th, 2021 1:11 pm