RE:This is a sure fire winner ! So as per this article
1. Westjet is running at 50% capacity
2. Air Canada planned this summer 35% pre panedmic capacity. But recalled 55% of flight attendant and most pilots worked through panedic. It means effective operation capacity was at about 50% capacity in Aug and may be July too. No point recalling 55% flight attendants if they couldn't run that much operations (assuming arranged required mechanics, etc..)
3. Normalizing means expect leisure domestic travel to reduce in Sept (compared to peak), though I think not by a lot. At same time, International travel is opening from 7th Sept.
4. This supports my earlier thesis about Q4 capacity/demand.
And we will know in few weeks from now about their Q3 free cash flow levels. I am still confident that they will be cash flow positive in Q4 if not September (or even Aug).