RE: RE: RE: RE: RE: What the Moody's Caa1 rating m Okay.... I reread my post and can see how it might seem a little ambiguous, so here it goes:
1. Yes, pilots are willing to make low wages for a couple of years, and even a little less in the long term because they want to stay in Canada whilst earning a respectable living as an airline pilot.
2. The poor treatment of Air Canada pilots is a relatively new phenomenon (the last 7-10 years). Folks already working at AC as pilots aren't yet ready to "throw in the towel", as they have a lot of time invested in the company. They would rather stay and fight for their working conditions and profession then quit and go abroad to work. Interestingly, AC is getting fewer folks applying to work as pilots because of the poor treatment from management.
3.I said the pilots are the only skilled professionals at AC. I was incorrect, the maintenance engineers also fall into that category... my apologies to them.
4. You absolutely correct, my history of investing in airline stocks is NOT germane to the discussion in the least - last time I'll mention that; promise.
At the end of the day, the current management at AC in concert with the BoD are destroying this potentially great airline. The pilots, or any one else at the company could work for free and it couldn't undo the damage ACE did to the airline. It was torn apart and cleverly "de-capitalized" by ACE, and is now a shell that will either be turned around by folks who care about the long term success of the company, or be in CCAA within a year and a half.
PS; Great to see the loads up for April, now if they could just get rid of Calin Rovinescu and a few Board members......