Tail Dragger,
AC is now in a position with an abundance of pilots which they don't know what to do with. The acquisition of Canadi>n Airlines now is just over a year old, and recently purchasing majority shares of Skyservice. They have a lot of pilots (especially in the regional fleet) who aren't doing much flying. You could say the economy is slowing down, but when you mix these two factors together, they aren't exactly in a position to be hiring. As well, AC last week mentioned they want to cut $1 billion in expenditures over the next year. Cross your fingers and hope they don't start laying off again!
Good luck...