I note that Air Canada also announced that they had posted a loss of $1.9billion for the year. How long can they keep going making losses of this magnitude?. I cannot see anyone wanting to invest with losses like this. I also note that some large debt are coming up for repayment soon and unless they can get agreement on restructuring these, things could get messy.
It might be a better option to let them fall and allow smaller, leaner operations to come to the fore. This might be a painful option for Canada and the Canadian people but it might be the best option in the long run.