RE:RE:RE:Just in, good news for enployeesWhy did I say 12.50/ share? Cause they have about 500 million in the bank (I don't know how much of that they have burned through in the last two months), divided by 38.5 million shares....makes about 12.50/share. With each passing day, they burn through more cash. By the time May 1st comes around, I am guessing that AC will have to lay out a bunch of their own money to make it 12.50 share. AC too is trying to hang onto cash.....they didn't draw down their one billion dollar line of credit to spend it on TRZ......they need it to stay alive themselves!!!
$3.50 is a number I came up with.....May 1st, plus one round of negotiations regarding restrictions with Garneau, for a final approval of September. At a burn rate of 60 million per month (desjardins), to 80 to 100 million (scotiabank), you do the math....the account will be nearning empty.
The other possibility I can smell is a Air Canada / Canadian Airlines forced takeover by the government. Just my 10 cents of opinion.
Cheers and GLTA.