I hope that the government doesn't bail them out again. It would create a great chance for someone to come in, buy the name and take over the profitable routes, especially the international ones. Westjet, Jetsgo and the others can take over the bulk of the internal routes. I don't see how they can survive for long even with a bail out with the current management and union attitudes. Southwest is heavily unionized, but they don't have trouble making money.
Why Air Canada is Doomed and Westjet is Ready to Soar
goates