It's not just AC, but other NA airlines are similar. To over-simplify business travel still has not recovered and the pent-up demand for leisure travel is softening, along with the general economy. Many reports indicate people are avoiding the Olympics, and maybe other Eurropean destinations during this period. I've regularly checked the flights to CDG the past couple of weeks, and from YYZ (once daily) the flights are fairly full, while from YUL (2x daily) J is often booked only 10-20 seats out of 30/40. Many hotels in Paris have openings in this period. Who would have thought it would be easy to go to Paris during the Olympics? Good time for a mileage run?