Rockie wrote:Aren't you forgetting the billions of dollars of revenue that flow through the company every single year? In your world of suits surely that's worth something
$11.6B flowed in, $11.85B flowed out. If I owned the company I would have sat back and watched senior management get paid, pilots get paid, baggage handlers get paid, union officials get paid, banks get paid, GECAS get paid. After all that, I got paid negative $250M.
Have a peak at these two financial statements. The good stuff is on page 2 and 4, respectively.
http://www.aircanada.com/en/about/inves ... FSN_q4.pdf
http://www.westjet.com/pdf/investorMedi ... 7_2012.pdf
You'll notice that Air Canada has $9.6B in assets, and $13.6B in debt. Air Canada is worth negative $4B. WestJet, on the other hand, has $3.5B in assets and $2.1B in debt. WestJet is worth $1.4B. Even little baby Air Canada (Chorus) is worth $143M.
So in summary, AC loses money, pays no dividend, has no growth potential (in fact, it's shrinking), has a balance sheet worth less than nothing, and is operated by angry, bitter, expensive employees. Great investment. At $264M, your neighborhood Credit Union could probably buy it but doesn't want it. I'm surprised Chorus doesn't buy you and then jack the CPA rate up to 20%. When AC goes belly up they can just take all the aircraft and fly themselves.
Oh and by the way, airlines are federally regulated business. The feds regulated you by giving you a sweetheart loan in 2009 so you can keep operating, they regulated you last year by blocking Emirates so you can keep operating, and now they're regulating you back to work so you can keep operating.