Great comment in the article: "Executives said they can develop off-season opportunities in South America, though in the short-term that could be challenging, as Air Canada is facing competitive pressure, and many of the region’s biggest economics are suffering".

I assume the "suffering economics" are affecting the competitors as much as AC; the takeaway seems to be that the AC executives are timid and/or understand their product is no more compelling to consumers than that of their foes?