Non-Canadian pilots have nothing to worry about, the company will still be operated from Canada, employees will still be paid in Canadian dollars.
The Canadian pilots however may be in a different boat. I understand that the wording in the tax law regarding the OETC (Overseas employment tax credit) says " A Canadian resident company doing business overseas" not "Canadian owned"
So we should be OK on that front, but lets wait and see what the official word is.
The one thing I don't understand is the Canadian OC situation. When I worked for a Canadian company that was taken over by an American company, we lost our OC. The reason being that to hold an OC in Canada (and Europe I believe) is that the majority share holders must be Canadian (or EU as the case may be).
That is the reason why so many years ago Craig Dobbin went back thru his family tree to get his Irish citizenship to be able to buy BIH.