RE:Commercial ResponsibilityNON REFUNDABLE = NON REFUNDABLE.
The merit of your logic is that its simple and clear.
By chance, the real world is not so simplistic, Capital letters or no.
Think about this when you will order something. NON REFUNDABLE = NON REFUNDABLE. You will lost your deposit even if the good is not delivered? I am sure that you will think differently.
We have to admit that the way the flight cancellation was managed is radically different than any other commercial transactions.
Beeing a shareholder must not change anything about this.
But I agree with you about the Transport Canada responsability for this problem. Even travelers with a travel insurance weren't reimbursed, insurers explaining that the Transport Canada declaration that a voucher is a reasonnable compensation allowed them not to pay.