Localizer wrote: ↑Tue Nov 12, 2024 6:34 pm
cdnavater wrote: ↑Thu Oct 31, 2024 3:47 pm
330heavy wrote: ↑Thu Oct 31, 2024 3:32 pm
Nice to see the comradery. A few Canadian aviation companies are struggling. Even Jazz, selling off Falco to stem the debt tide, and erasure of AC flying. We are all in this together and should be supporting each other. Canadian aviation is FUBAR. No doubt. I also have no doubt in Air Transat to right the ship, one way or another.
The difference is Chorus created an asset worth almost 2 billion and the debt is gone, leaving a little over 814 million in cash! Enough to pay off ATs loan to the tax payer, more or less. I think this sale is the winding up of Chorus, shareholders will get a payout when all the remaining assets are sold off, the big question, who is buying Jazz?
This would be a true bail out to forgive this loan, no airline in Canada has ever received a bailout that didn’t eventually pay back the tax payer, at least as far as I remember.
I do want AT to succeed, it needs to happen while still paying back the money they borrowed, I do not wish Transat pilots the horrible fate of starting over but I also think the playing field should be fair!
Could you please enlighten the group about how “fair” the playing field is? Which Canadian airline had the Government of Canada finance there fleet of Airbus’s to the tune of $1.8 billion in 1988? Care to take a guess?
Spare us the fair nonsense.
Care to show me where the fact of government subsidy to buy these jets is, I found an articles indicating the sale to the public is what financed these jets, are you going on what someone said to you because many people believe Air Canada has been bailed out but that has also been disproven.
I understand why you’re lashing out but seriously man, you(AT) borrowed the money, pay it back like everyone else did!
Show me ever where the money borrowed from the government by AC wasn’t paid back to the tax payer with interest!
If you guys don’t pay this loan back, how quick do you think financing will come your way after that, I wish you luck!
https://www.latimes.com/archives/la-xpm ... story.html
“And while it has assets of more than $2.4 billion and reported a profit of $36.5 million in 1987, it has an accumulated debt of more than $1 billion and needs to raise $2 billion by 1995 in order to rejuvenate its fleet.
According to government officials, the prospect of a quick infusion of funds to buy new planes was a prime motive in the decision to sell Air Canada stock to the public, since Mulroney had decided that the airline would have to finance acquisitions itself”
https://www.joc.com/article/air-canada- ... al-5601315
Leo Ryan | Apr 13, 1988 at 8:00 PM EDT
The planned partial sale of state-owned Air Canada will allow it to plan for fleet renewal, said Air Canada President Pierre Jeanniot.
Commenting on Tuesday's surprise announcement by the federal government, Mr. Jeanniot said the sale is the financial key to Air Canada's future and allows the airline to plan for fleet expansion and renewal as well as pursuing new business opportunities.Deputy Prime Minister Don Mazankowski said