Just about right
PJ had summed it up.
Bottom line is pilots are a cost item that operators will try to reduce, just like fuel, MX and everything else. The public shops prices ruthlessly, operators will do the same with costs. Canadian aviation is no longer an island that can isolate itself. Every working stiff in Canada is feeling it at some level, even lawyers are seeing work outsourced to India.
It is going to be very tough for an airline to survive in Canada unless it integrates itself with an American or an International carrier. I don't think a full service carrier doing short haul domestic and long haul international is a viable business anymore.
20driver