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AC Provides Financial Update on COVID-19 (16Mar20); Long-term changes coming?

AC Provides Financial Update on COVID-19 (16Mar20); Long-term changes coming?

Old Mar 20, 2020, 8:33 am
  #91  
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Originally Posted by mileageking
My point is that portion of government subsidies to airlines should go towards keeping pilots, FAs, airport agents at work when it's time to stimulate and accelerate airline industry back to normal and keeping planes off the ground. Direct funds to minimize employee layoffs (who know for how long this can be). It shouldn't go to enrich shareholders or pad profits or executive bonuses during these tough times.
The bailout should not go to shareholders, or executive bonuses, but of those categories of staff, I'd only be worried about bringing pilots back since they need ongoing hours and training to be, er, pilots. Bringing FAs and other agents back a week early for a refresher wouldn't be unreasonable; they don't need X hours a month in a simulator. If AC can't rehire them because they have gotten better jobs elsewhere, well, market at work, sad for AC, good for the employee.

EI, with relaxed requirements (not that any AC employee wouldn't have their hours) and enhanced benefits is the mechanism Canada has as a safety net.
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Old Mar 20, 2020, 9:51 am
  #92  
 
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Originally Posted by Plumber
I am so sad to see this, though I completely understand why it is necessary. I hope all these people can get funding from EI and/or other programs in the coming weeks and months.

Unfortunately this is the tip of the iceberg in terms of the job losses that are coming in our country.
Five weeks ago I was chatting with some of the cabin crew in the forward galley of my HND - YYZ flight about how they hoped the route impacts wouldn't move beyond mainland China. Five weeks ago.

COVID-19 is going to be bad for everyone, but it is going to hit people like AC crew first and hardest. Never mind the company, I feel horrible for the people on the front line who are losing their jobs with no return to work in sight.
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Old Mar 20, 2020, 10:46 am
  #93  
 
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Originally Posted by RangerNS
The bailout should not go to shareholders, or executive bonuses, but of those categories of staff, I'd only be worried about bringing pilots back since they need ongoing hours and training to be, er, pilots. Bringing FAs and other agents back a week early for a refresher wouldn't be unreasonable; they don't need X hours a month in a simulator. If AC can't rehire them because they have gotten better jobs elsewhere, well, market at work, sad for AC, good for the employee.

EI, with relaxed requirements (not that any AC employee wouldn't have their hours) and enhanced benefits is the mechanism Canada has as a safety net.
Also any government subsidies given should not be used to buy back stock.
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Old Mar 20, 2020, 2:00 pm
  #94  
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Old Mar 20, 2020, 4:36 pm
  #95  
 
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Originally Posted by 24left
C-GFUR is also in the shed. That really sucks as it's the only refurbed A333.
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Old Mar 20, 2020, 5:00 pm
  #96  
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Originally Posted by yyztozag
C-GFUR is also in the shed. That really sucks as it's the only refurbed A333.

Reality check:

What sucks for Air Canada is far greater than a newly refurbished A330 being parked. There are already other AC aircraft on the ground and more to arrive at other parking spots at other airports.

For those of us who remember what rows of parked aircraft looked like not so long ago......
.
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Old Mar 20, 2020, 9:00 pm
  #97  
 
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Brutal but expected news about layoffs, which are happening across many industries. I mostly agree with Adam Smith's analysis, but think his term sheet is too harsh. Why? Well, as he said: "The cause of this crisis for airlines is a true externality, and the airlines might be happy to keep operating if not for all the travel bans and other restrictions placed on their business, so it's really a government decision to shut their business down that will hurt them." We are all (well, many of us) being asked/told to make sacrifices. I'm sitting at home unable to do my job for I'm guessing at least the next five months; my employer is thus far willing to continue to pay me but that could change at some point. Airlines, hotels, cruise lines, restaurants and lots of other businesses are told to shut down/reduce operations, and are getting decimated, all in a greater cause. I'm guessing there will be an enormous effort by governments to keep businesses from going under so that once things normalize, things can normalize. I don't know what the longer term impacts of this will be - obviously much larger government debt; perhaps inflation? - but this is about far more than AC.
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Old Mar 21, 2020, 12:01 pm
  #98  
 
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Originally Posted by 24left
Reality check:

What sucks for Air Canada is far greater than a newly refurbished A330 being parked. There are already other AC aircraft on the ground and more to arrive at other parking spots at other airports.

For those of us who remember what rows of parked aircraft looked like not so long ago......
.
I totally understand that AC has bigger issues, and I know (at least hope) that nobody here is stupid enough to chase this plane and do a trip report. I just find it kind of interesting that they specifically chose this one, even though whoever made the decision to store the aircraft had no reason, obligation or responsibility to check the seat maps of grounded planes.
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Old Mar 21, 2020, 10:33 pm
  #99  
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Originally Posted by PB53x11
I mostly agree with Adam Smith's analysis, but think his term sheet is too harsh.
You've said why, and I understand that, but I'm curious as to what, in particular, you would change. I thought I struck a fair balance. But I also only spent only 13 minutes thinking it up and writing it out, so I'm not exactly emotionally invested in it

Would be curious to see what you'd propose instead

Last edited by Adam Smith; Mar 22, 2020 at 8:59 am Reason: Corrected typo
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Old Mar 22, 2020, 8:07 am
  #100  
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Originally Posted by 24left
Reality check:

What sucks for Air Canada is far greater than a newly refurbished A330 being parked. There are already other AC aircraft on the ground and more to arrive at other parking spots at other airports.

For those of us who remember what rows of parked aircraft looked like not so long ago......
.
I'm sure the decision was based on factors other then it's configuration. Current geographical location, hours to next check and total hours.
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Old Mar 22, 2020, 9:08 am
  #101  
 
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Originally Posted by RangerNS
I'm sure the decision was based on factors other then it's configuration. Current geographical location, hours to next check and total hours.
or a desire to not expose it to further sanitization protocols which may wear plastic surfaces if done often enough
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Old Mar 22, 2020, 9:13 am
  #102  
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Originally Posted by colombianbrew
or a desire to not expose it to further sanitization protocols which may wear plastic surfaces if done often enough
My natural response would be they aren't that smart, but I know the very first "request for engineering services" on the CH-149 was clarification on suitable glass cleaner for their windshields, so the wrench turners care about such things.
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Old Mar 22, 2020, 9:26 am
  #103  
 
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Originally Posted by RangerNS
My natural response would be they aren't that smart, but I know the very first "request for engineering services" on the CH-149 was clarification on suitable glass cleaner for their windshields, so the wrench turners care about such things.
nothing like staring proudly at your newly cleaned, sparkling window and the watching in horror as you start to see crazing appear (Im not in aviation but have seen this in other industries)
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Old Mar 22, 2020, 9:28 am
  #104  
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Originally Posted by RangerNS
I'm sure the decision was based on factors other then it's configuration. Current geographical location, hours to next check and total hours.
I am not the one who posted, wondering why a newly refurbed A330 was parked.
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Old Mar 22, 2020, 12:38 pm
  #105  
 
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AirCanada and AEROPLAN

So now that AIrcanada owns the aeroplan system, if Aircanada goes down, do we loose all our points as well?
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