ACE's damaging legacy A great example of this is AVEOS. This was the "heavy maintainence" division of AC mainline prior to CCAA in 2003. Under ACE, it was carved away from the main airline in hopes of being sold. All the profits of which would have gone to the share holders of ACE, to be distributed accordingly. Instead, no one in the industry bought it, because they new what it really was.... still a division of AC mainline.
Now 9 years later, AVEOS goes bankrupt, 2000+ skilled Canadian engineers are out of work, and AC mainline has had to take a $120 million right-off (AC could have bought back AVEOS for MUCH less then $120 million today - but that would have ruined ACE's grand plans). AC is currently ferrying B-777's EMPTY to Hong kong and Singapore and EMB's empty to South America to have heavy maintainence done on them that AVEOS was doing in Canada. For some perspective, a B-777 burns as much fuel to fly to Hong Kong as a 6 normal sized sedans would use in 10 years.
Until the chickens of ACE stop coming home to roost, AC mainline is nackered.