Jazz & Big Red ...Waiting to after the Olympics

[BE99]

Just heard this last night from a farily solid source:

Sounds like Air Canada & Jazz are waiting until after the Olympics before they pull the pin once again and file for protection. From what i understand this was the main reason Montie was replaced to start setting up for another Bankruptcy plan and yet another government bail out, and because A.C. is the Sponsor of the Olympics will wait until after it is done.

[whiteguy]

Just heard this last night from a farily solid source:

Sounds like Air Canada & Jazz are waiting until after the Olympics before they pull the pin once again and file for protection. From what i understand this was the main reason Montie was replaced to start setting up for another Bankruptcy plan and yet another government bail out, and because A.C. is the Sponsor of the Olympics will wait until after it is done.

With all your knowledge in this matter please tell us when was the original government bail out?

[mattedfred]

awesome, i love the rumour mill. i'm not saying that this will or will not happen but we really need to stop treating rumours as facts. has anyone ever been able to consistently and accurately predict what would happen in this industry? surely the shares would be worthless today if this source was indeed reliable.

[teacher]

Just heard this last night from a farily solid source:

Sounds like Air Canada & Jazz are waiting until after the Olympics before they pull the pin once again and file for protection. From what i understand this was the main reason Montie was replaced to start setting up for another Bankruptcy plan and yet another government bail out, and because A.C. is the Sponsor of the Olympics will wait until after it is done.

AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

Somebody must be bored on a Friday morning. This was just released today, it should only get better as the economy improves:

Air Canada in the black
The Canadian Press

Montreal — In spite of lower passenger and cargo revenue, Air Canada turned reported a profit in the third quarter – thanks to lower fuel prices and foreign exchange gains.

Canada's largest airline reported profit of $277-million or $2.44 per share for the quarter ended Sept. 30.

That was an improvement from a year-ago net loss of $132-million or $1.32 per share.

The airline pointed out that the quarter's profit included $295-million in gains on foreign exchange of $295-million, in contrast to an $87-million foreign exchange loss in the third quarter of 2008.

On an adjusted basis, the airline reported a loss of 19 cents a share. The earnings were adjusted to remove gains of foreign exchange and a gain on assets of $1-million during the quarter.

Air Canada's operating revenue totalled $2.7-billion for the quarter, down from $3.1-billion last year.

Analysts had pegged Air Canada's earnings per share at 38 cents and revenue at $2.6-billion, according to estimates compiled by Thomson Reuters.

“The third quarter of 2009 was of pivotal significance for Air Canada,” said Calin Rovinescu, the company's president and chief executive officer.

“During the quarter, we finalized a series of transactions that stabilized the company and strengthened our position to manage through the challenges brought on by ongoing weak economic conditions.”

Air Canada posted operating income of $68-million for the quarter, a drop from $112-million recorded a year ago. The airline said its operating results continued to be affected by weak economic conditions.

The Montreal-based airline said passenger revenue fell by 13 per cent in the July-September quarter from the previous year to $366-million.

Air Canada saw a 2.1-per-cent drop in passenger traffic and cut capacity by 3.3 per cent.

These were however partly offset by the positive impact of lower fuel prices.

The airline also said it succeeded in improving its passenger load factor by one percentage point compared to the previous quarter thanks to new capacity management approach.

Mr. Rovinescu added that the airline industry continued to face a challenging revenue environment and did not expect to see a full recovery for another 12 to 18 months.

“Although passenger revenue performance reflects the challenges that all airlines are facing, we were successful in mitigating some of the revenue decline with initiatives to stimulate traffic, generate revenues and re-engage customers,” he said.

Air Canada said its Cost Transformation Program was on track to achieve an expected annual revenue and cost reduction initiatives of $50-million in 2009 and $250 by 2010.

The airline said international growth was also a priority in the coming quarters.

In October, Air Canada announced a code share agreement with Continental Airlines, and said it also plans to introduce new non-stop services to destinations across Europe.

The airline said it is also pushing for a culture change within its operations which will incorporate simplified processes and a “just-do-it” mentality.

Air Canada shares closed at $1.14 Thursday on the Toronto Stock Exchange.

http://ctv2.theglobeandmail.com/servlet ... tvBeta=yes

[mattedfred]

i love this part

"The airline said it is also pushing for a culture change within its operations which will incorporate simplified processes and a “just-do-it” mentality."

don't we already have a just do it mentality

just do it and grieve it LOL

[North Shore]

Sheesh, I read it in the Globe and Mail, therefore it must be true

One wonders what an airline with some fairly large financial challenges is doing sponsoring a major sporting event like the Olympics? I'm assuming that the VANOC buy-in wasn't cheap....

[whiteguy]

Sheesh, I read it in the Globe and Mail, therefore it must be true

One wonders what an airline with some fairly large financial challenges is doing sponsoring a major sporting event like the Olympics? I'm assuming that the VANOC buy-in wasn't cheap....

Yes, pretty pathetic for national airline to sponsor an olympic event in its own country!!!!

[bmc]

The commitment to sponsor probably came a few years back.

[tonysoprano]

Sheesh, I read it in the Globe and Mail, therefore it must be true

One wonders what an airline with some fairly large financial challenges is doing sponsoring a major sporting event like the Olympics? I'm assuming that the VANOC buy-in wasn't cheap....

The commitment to sponsor probably came a few years back.

Could it be that AC is the only airline in the country where the Olympics will be held that can actually bring the small communities of that country to Vancouver as well as bring the world to the Olympics? Could it be that a flag carrier still means something? Could it be that sports teams, government, rock bands, royal families, popes, still rely on this form of transportation and nobody else in the great white north? Ahh, so many questions. Such difficult answers to achieve. Common Sense died a long time ago. He was very old. RIP Mr. CS.

[shannon]

What of this persistent myth of a previous ac bailout. I hear it referred to on a regular basis from people in this industry who pretend they have their finger on the pulse. Can anyone please tell me when the bailout occurred so that we can put it in the history books.

[wrc]

read the release again, AC lost money in it's operations. The numbers were worse then expected. Thank God for currency gains. This kind of self delusion by employees is what stops real lasting change.

[PA31 Driver]

[quote="shannon"]What of this persistent myth of a previous ac bailout. I hear it referred to on a regular basis from people in this industry who pretend they have their finger on the pulse. Can anyone please tell me when the bailout occurred so that we can put it in the history books.[/quote]


Then explain to me and the others here what happened back in the early 2000's when A.C. did file for protection and i remember the governement did state (more then ones) that it would not let A.C. go under because it was the national airline of Canada. What do you figured happend there ? ... wow ... the orginal poster just stated what he/she heard and it does make sense. Just image them going on stike just before the 2010 Olympics.. that certainly wouldn't be good.


http://www.accomponent.ca/About_the_Uni ... ectionism/

[whiteguy]

What of this persistent myth of a previous ac bailout. I hear it referred to on a regular basis from people in this industry who pretend they have their finger on the pulse. Can anyone please tell me when the bailout occurred so that we can put it in the history books.

Then explain to me and the others here what happened back in the early 2000's when A.C. did file for protection and i remember the governement did state (more then ones) that it would not let A.C. go under because it was the national airline of Canada. What do you figured happend there ? ... wow ... the orginal poster just stated what he/she heard and it does make sense. Just image them going on stike just before the 2010 Olympics.. that certainly wouldn't be good.


http://www.accomponent.ca/About_the_Uni ... ectionism/

If your so knowledgeable about the situation why don't YOU explain to us what the government did to bailout AC? So many times we've seen people claim the government bailed out AC, but not once has anyone provided proof.

[PA31 Driver]

http://www.caw.ca/en/sectors-leadership ... 2-2003.htm



Here you go !!

[BE99]

I realize all the folks at AC & Jazz will fight tooth and nail for their company but we need to also realize maybe just MAYBE there some truth to this and stop fighting between ourselves.

http://www.financialpost.com/story.html?id=1697555

[whiteguy]

I realize all the folks at AC & Jazz will fight tooth and nail for their company but we need to also realize maybe just MAYBE there some truth to this and stop fighting between ourselves.

http://www.financialpost.com/story.html?id=1697555

How are "Loans" considered a bailout?

[whiteguy]

http://www.caw.ca/en/sectors-leadership ... 2-2003.htm



Here you go !!

No proof in there about the Government bailing out Air Canada!!!

[tonysoprano]

Whiteguy. Don't waste your time.

[PA31 Driver]

HEY guys! please tell me where you purchase your rose coloured glasses. I would love to experience your world !! LMAO ...

[whiteguy]

HEY guys! please tell me where you purchase your rose coloured glasses. I would love to experience your world !! LMAO ...

No problem, as soon as you produce the facts!!!!!!