The Rape Continues...

[ivanhoe]

ACE Aviation Holdings Inc., the parent company of Air Canada, was questioned yesterday about preferential treatment given to a small group of investors rather than pushing ahead with its own timely unwinding.
Wednesday, Nov. 12, 2008
Mr. Kavafian said the only reasonable explanation is that ACE is putting the interest of its preferred shareholders ahead of its own timely unwinding. He said the preferred shareholders would see a lot less of the $824-million ACE has in free cash if that money entered the coffers of the amalgamated company before the shares were converted.

[the original tony]

why else do you think there's such a big lineup at the door waiting to buy us out????????????????
This outfit is a hole that nobody wants to come near with a dime and i can't blame them.
If it were to sell there would be a stipulation that all execs get 100% of profits raised from assets sold, xtra vacation and what ever other bull shit can be thought up, oh.....
Pilots must take another 20% paycut so more real estate can be purchased by our blood sucking leaders.
Rant out, @#$! it, i'm gonna get a beer,
Sunday morning, time i started drinking 1043
later boys

Tony

[C-FABH]

Pilots must take another 20% paycut so more real estate can be purchased by our blood sucking leaders.

BAWWWWWWWWWW, and none of the other employees have to suffer???

[yyz monkey]

Pilots must take another 20% paycut so more real estate can be purchased by our blood sucking leaders.

BAWWWWWWWWWW, and none of the other employees have to suffer???

Yeah, because I can afford a cut to my $12.50/hr.. no need to continue my education whatsoever..

[Embraer190]

[KAFUFO]

Try the other airline?

[ivanhoe]

Air Canada placed on S&P’s CreditWatch with negative implications
Posted: December 02, 2008, 3:59 PM by Jonathan Ratner
Market Call, credit, airlines, Air Canada
Air Canada was placed on Standard & Poor’s CreditWatch Tuesday with negative implications due to the increased pressure on the carrier’s short-term cash flow.

The decision was prompted by the need for the airline to post significant collateral on its fuel-hedging contracts because of the recent rapid decline in fuel prices and its capital expenditure in the past year on new planes and its fleet refurbishment program, the New York rating agency said.

But the possibility of increased pension payments and lower tickets sales compounded the urgency for the review, it added.

“Although we believe the drop in fuel prices and a more modern and fuel-efficient fleet should help Air Canada’s cost position and improve its operating cash flow in 2009, these factors have a more near-term effect on the company’s liquidity,” said Greg Pau, S&P credit analyst.

Air Canada’s available free cash dipped to about $1-billion at the end of October, or roughly 10% of its trailing 12-month revenue, compared to 15% to 20% of its competitors. In addition, it has been unable to access its $400-million revolving line of credit due to the instability in the market.

While Air Canada is currently exploring means to improve its liquidity, its noninvestment grade “B” rating could slip a notch or two if it fails to improve its cash flow or its liquidity materially deteriorates in the next two quarters, S&P said. It would have to improve its cash levels and its revolving line of credit to 15% of its 12-month revenue in order to be taken of CreditWatch and have its rating untouched.

[Squid]

quick someone call Tony!

[tonysoprano]

What!! What's going on?

[yycflyguy]

So that $2 billion payout to the shareholders(read; "executives") sure would come in handy now. I also see that the company is trying to pressure the unions into delaying topping off the pension plans for an additional 5 years. Yeah, let me think about that... NO!

[daveg]

That means that your precious pention is soon gonna be a gonner. Boy I sure love looking after my own retirement.

[RFN]

I am not an Air Canada employee, so I don't usually post here.

I know I am not supposed to let daveg get my goat.
But he did.

daveg, poking fun at even the theory of good people losing their pension (yup, that's how grown-ups spell it) shows you to be a worthless person.

One day I hope that you, not the good people that work with you, are paid what you are truly worth.

[Inverted2]

Just ask the United Airlines guys down south how their pensions are now. Scary stuff.

[yycflyguy]

I keep hearing reassuring words that what happened in the airline industry down south as well as other white collar crime incidents (Enron) can't happen in Canada. Federally regulated defined benefit plans could never be erroded to keep the airline afloat, I am told... oh, you mean the same federal government that just threw aside the voice of Canadians and wants to implement a coalition government that includes interest from separatists? And I thought corruption in Latin America was bad.

[Rotten Apple #1]

daveg, nobody at WestJet expects you to post inflammatory comments about AC's employees here. You're lowering the bar unnecessarily and making the rest of us look bad by association. AC's employees are like the rest of us, just trying to make it through until retirement. C'mon back to the WJ forum where we can keep an eye on you.

Seriously.

[yycflyguy]

daveg, nobody at WestJet expects you to post inflammatory comments about AC's employees here. You're lowering the bar unnecessarily and making the rest of us look bad by association. AC's employees are like the rest of us, just trying to make it through until retirement. C'mon back to the WJ forum where we can keep an eye on you.

Seriously.

Doesn't Daveg have a mentor that should be showing him "the ropes"? Aren't those that recommended him for a job a little embarrassed by their association with him? Kinda like what happened to Sean Avery, after awhile it catches up to you.

[WJ700]

They have rebel and Blastor... and we get this retard. It goes both ways.

[disco]

Well it is nice to see some of you WJ guys taking a grown up and sensible position on Daveg's comments re: "pention" (sic). I know that your place of work and mine are made up of mostly really great guys and a couple of....pantloads here and there.

Daveg....try to have some class man. Our profession is worthy of us showing some class isn't it? I want you to do fabulously well in your retirement....I really do. And clearly I would like to do the same.

Merry Christmas y'all

[Four1oh]

Grow up Daveg, seriously. This industry is too small to be a troll.

[Clint23]

Dave G you are an idiot. How about posting or pm a westjet guy your employee number to confirm it! Otherwise I can't believe you are! Yes, they do have strong opinions on things, but they are usually not assholes.....unless they are in the left seat Just joking JD LOL

[The Hammer]

Dave G

You sure have to hate those pension things. I'm sure none of Westjet (who I doubt you work for) passengers paid for their travel with pension income, particulairily your winter vacation traffic. Teachers, nurses, plumbers, electricians, Telus/Bell, governments employees all have pensions. How many aircraft would be parked without that revenue???

Its kind of like complaining about natives when you work at Perimeter. You wouldn't have a job without them.

[daveg]

you can erase this one too.

[tonysoprano]

Amazing what smaller ps checques can do to a guy.

[ivanhoe]

http://watch.bnn.ca/trading-day/Decembe ... clip119165

[tonysoprano]

Sorry Ivan but....

The webpage cannot be found

...clic, clic, clic, sound of keyboard rushing for a comeback...