CBC radio news just announced (15:30 UTC) that the Canadian Industrial Relations Board has ruled against C3’s application to drop former Royal employees from the common employer status.
I think AK’s really stepped in it this time. He claims that C3 is losing $750,000 CAD a day and that shutting the Royal division would cut their cost by 30 percent. Would this not cut revenue by 30 percent as well? Now they would be losing only $500,000Cad a day (according to AK’s math they could operate for an additional 3 days).
Lets see, they just took delivery of a brand new A340 and are operating Toronto to Delhi with 30 percent load factors. Suppose there’s any dollars to be recovered by abandoning that operation?
AK’s ability to serve as CEO is finished. If they truly hope to fend off bankruptcy they better get some credible and experienced talent at the helm of this rudderless ship…
