Originally Posted by
Antonio8069
No, I don't think Onex is going bankrupt anytime soon! They have said they are in for the long run.
I am genuinely puzzled by WS strategy? Laying off 1/2 their FAs is pretty drastic, IMO. They have a lot of new aircraft (leased or owned?) Their public filings (Sedar) provided no forward looking insight? Moreover, I don't get their Swoop straegy either? WS seems to have entered an uber competitive market (Rouge, Flair to compete against themselves (check arrivals @ YMH and you will see what I mean!)
I think the strategy is fairly straightforward.....
The Sedar filling was done by a board knowing the company was set to go private and likely replaced by a new board. Given no forward looking insight would be the best thing to do. Now that they are private, there are no Sedar fillings.
WS is scared of Flair. They think it might someday grow into WestJet 2.0 and become a real competitor. Swoop is their low quality, low service, banner designed to make it difficult for Flair to become viable competitor. It basically matches Flair in every way. Both Swoop and Flair are airlines to be avoided at all cost. Both should fail during this downturn.
WS is trying to become a real global airline (and yes it baby steps). The new fleet is part of that as well as real business class seats and lounges. The 50% layoff talk is what every real global airline is looking at doing today.