Air Canada
 

daz - are we talking about Chapter 11 style bankruptcy, namely 'cancel all the debts that you can't pay and make the staff take wage cuts and just start again', or a form of bankruptcy which is something like the UK variety ?

I seem to recall that in 2002 (or maybe 2003), Air Canada went through bankruptcy proceedings, re-emerging about 18 months later. As far as passengers were concerned, there was little noticeable change.

the difference is that in 02, Air Canada had Aeroplan, Air Canada Technical Services, Air Canada Jazz... all of which have been spun off, bonuses all round.