daz211
17th Feb 2009, 18:38
UPDATE 3-Air Canada could be forced into bankruptcy - UBS - News - CNBC.com (http://www.cnbc.com/id/29239415)
davidjohnson6
17th Feb 2009, 20:01
daz - are we talking about Chapter 11 style bankruptcy, namely 'cancel all the debts that you can't pay and make the staff take wage cuts and just start again', or a form of bankruptcy which is something like the UK variety ?
I seem to recall that in 2002 (or maybe 2003), Air Canada went through bankruptcy proceedings, re-emerging about 18 months later. As far as passengers were concerned, there was little noticeable change.
MarkD
18th Feb 2009, 01:57
the difference is that in 02, Air Canada had Aeroplan, Air Canada Technical Services, Air Canada Jazz... all of which have been spun off, bonuses all round.