Looking at this from a European perspective, how much of this failure is due to internal mis-management, and how much due to market conditions?
MOL has long gone on about the "blood-bath" expected with too many airlines chasing too few seats, and the situation just south of the border with so many airlines being propped up by Chapter 11 is equally dire.
Obviously, any airline going out of business is an unfortunate loss for all concerned, and it seems that a lot of people on both sides of the check in desk have been left in the dark on this one.
But how much is Canada really open to no frills airlines? Being one of the largest countries in the world, with a population around half that of the UK, aren't operating costs always going to be much higher? FR might get away with selling a few seats on short hops for £1, but I can't see how that could ever work on YTO to YVR, which is an inter-continental flight in all but name.
How many "Ryanairports" are there in Canada - especially when even YMX has now closed. How much does the climate add to operating costs?