RE:RE:No WARRANTS for the FedsFrom what I can figure AC managers are removing and ticking off all of the restrictions that were put on them by the agreement announced on April 12 of this year. Most were commitments and most have been or will be met in the next six months.
1. The refunds have been refunded. So Done.
2. There has been resumption of service to regional communities. So Done.
3. Here is where the commitments have left Air Canada's share price vulneralbe to those who prosper by short selling. Currently 40% of AC stock is being sold short. The restrictions were on certain? expenditures, no dividends allowed, no share buybacks and no executive compensation bonuses.
That's like asking a boxer to go into the ring but not allowing that person to raise their gloves higher than belly button height.
4. No more layoffs. Employees are being recalled. So Done.
5. AC needed to complete the acquisition of 33 A220s and 40 737s. This will be done by June of 2022. So as good as done.
There was a sixth condition to do with the restriction of voting rights for the warrents but that is redundant now. So Done
The path will be clear to then remove the restrictions identified in #3.
Perhaps then they can start by buying back the 21.6 million shares that the government owns and kick them out of the board room to boot.