Originally Posted by EdmFlyBoi

From the interview with Calin:

“Our objective has been not only to survive, but to be competitive coming out of the pandemic,” Rovinescu said. “We’re competing with carriers around the world that have been supported by their government, so we’d hope the terms would be on a reasonable basis.”

I would suggest there is little doubt that AC will be able to return to profitability when travel returns to pre-COVID levels. Their management team has been able to create a pretty robust carrier over the last 10 years that seems to be able to manage even the most severe downturn. Porter may not survive (they haven't been able to restart), AC is gobbling up Transat (if they get approval), and they have pretty robust JV's and interline agreements with multiple carrier partners around the world. The next 12 months will be really tough, but if they can keep their burn rate below 8 million dollars a day, they may be able to hold losses to well under a billion dollars a quarter. Although that is a lot over 4 quarters, with the amount of liquidity raised already, they will definitely be able to weather 2021.