The 17M$ burn rate and the cash position are good news but that only give two or three additional months of survival if ....

The game is not really on that side but on the back in business side.

The 80% capacity cut for Q3 means a 85% revenues reduction for the best quarter ( with a 50\60% load factor). The Company will burn cash for a longer period than anticipated. The special offers, the care program, the addition of flights since june didn't work. The political pressure made by Air Canada for less restricted traveling rules looks like the only tool against the stagnation of the company.

With the chaos in the United States and the cautious approach in the canadian side I don't see any improvement on that side except for a possible vaccine at year end. And the time lapse for a mass vaccination is not yet determined.