The LOAN from the EDC was not a bailout. It was a LOAN at loan shark rates I might add. All the money that had any connection to the Canadian Govnt has been paid back with huge amounts of interest so the Canadian tax payer actually made money off of Air Canada again. Funny how when GM gets 10.5 BILLION dollars nobody seems to say much.
Bailout keeps GM Canada alive - Winnipeg Free Press Gurantee a loan for 150 million and everyone is off their rockers about it.
As for not being a cash cow? Have a look at how much tax AC pays every year. Think about how much tax AC generates every year in sales. Have a look at how much money AC pays to Nav Canada every year. I can assure you it is a HUGE amount. So much so that the federal Goverment seems to think that any interruption in service from AC would be disruptive to the economic recovery.