Chapter 11.

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co-joe
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Re: Chapter 11.

Post by co-joe »

One thing's for sure, we're all going to be a lot thinner...
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flyinhigh
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Re: Chapter 11.

Post by flyinhigh »

Especially since my wife is making me go to the gym. :? :?
co-joe wrote: Tue Aug 11, 2020 11:33 pm One thing's for sure, we're all going to be a lot thinner...
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co-joe
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Re: Chapter 11.

Post by co-joe »

flyinhigh wrote: Wed Aug 12, 2020 8:59 am Especially since my wife is making me go to the gym. :? :?
co-joe wrote: Tue Aug 11, 2020 11:33 pm One thing's for sure, we're all going to be a lot thinner...
Of all the places to catch the covid the gym seems like probably the most dangerous place you could go. One wuhan positive person touches the door knob, 20 different dum bells, the grab bars on the treadmill, and we all go back to stage 1 again. Go ride your bike.
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RRJetPilot
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Re: Chapter 11.

Post by RRJetPilot »

Been hitting the gym the last month. Thank god they are open again. Haven't heard of a single transmission at a gym or on a plane. Glad you ride your bike, stay out of the gym, more space for me.
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ragbagflyer
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Re: Chapter 11.

Post by ragbagflyer »

flyinhigh wrote: Tue Aug 04, 2020 9:03 am While all the Canadian airlines have a healthy bank account, I feel (only due to my pure hatred of the liberals) that all companies should file Chapter 11. Could you imagine the shit show in YOW if AC, WS, TS, Sunwing and the likes say enough is enough we can't shed anymore, only way out is Chapter 11.

I feel the liberals want everyone to burn their rainy day funds into the red before anything happens, yet in 10 years when this occurs again we will be in a worse off position. So with that, everyone file. I mean 1.6 Billion lose and nothing out of YOW, COME ON......
Your post demonstrates your have a serious lack of understanding of how business and CCAA works....
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flyinhigh
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Re: Chapter 11.

Post by flyinhigh »

ragbagflyer wrote: Mon Aug 17, 2020 12:42 pm
flyinhigh wrote: Tue Aug 04, 2020 9:03 am While all the Canadian airlines have a healthy bank account, I feel (only due to my pure hatred of the liberals) that all companies should file Chapter 11. Could you imagine the shit show in YOW if AC, WS, TS, Sunwing and the likes say enough is enough we can't shed anymore, only way out is Chapter 11.

I feel the liberals want everyone to burn their rainy day funds into the red before anything happens, yet in 10 years when this occurs again we will be in a worse off position. So with that, everyone file. I mean 1.6 Billion lose and nothing out of YOW, COME ON......
Your post demonstrates your have a serious lack of understanding of how business and CCAA works....
Educate me than. I am well aware how business works however thankfully have never had to take a company to CCAA.

Perhaps you don't like the fact that I can't stand the liberals, perhaps you feel it is a bad idea for a Company to file if they have money in the bank.
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dialdriver
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Re: Chapter 11.

Post by dialdriver »

flyinhigh wrote: Tue Aug 18, 2020 11:21 am
ragbagflyer wrote: Mon Aug 17, 2020 12:42 pm
flyinhigh wrote: Tue Aug 04, 2020 9:03 am While all the Canadian airlines have a healthy bank account, I feel (only due to my pure hatred of the liberals) that all companies should file Chapter 11. Could you imagine the shit show in YOW if AC, WS, TS, Sunwing and the likes say enough is enough we can't shed anymore, only way out is Chapter 11.

I feel the liberals want everyone to burn their rainy day funds into the red before anything happens, yet in 10 years when this occurs again we will be in a worse off position. So with that, everyone file. I mean 1.6 Billion lose and nothing out of YOW, COME ON......
Your post demonstrates your have a serious lack of understanding of how business and CCAA works....
Educate me than. I am well aware how business works however thankfully have never had to take a company to CCAA.

Perhaps you don't like the fact that I can't stand the liberals, perhaps you feel it is a bad idea for a Company to file if they have money in the bank.
CCAA requires court approval. You can't just declare bankruptcy.

https://www.ic.gc.ca/eic/site/bsf-osb.n ... 02284.html
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paddy
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Re: Chapter 11.

Post by paddy »

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Localizer
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Re: Chapter 11.

Post by Localizer »

So the banks (CIBC, BMO, Scotia) received a bailout, the automotive industry received a bailout (GM’s bailout equaled $447,000 per worker), the oil industry has received a “loan” (bailout), and northern air operators can dip into a $75 million fund.

But the airlines can go @#$! themselves ...

:roll:
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flyinhigh
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Re: Chapter 11.

Post by flyinhigh »

dialdriver wrote: Tue Aug 18, 2020 11:36 am
CCAA requires court approval. You can't just declare bankruptcy.

https://www.ic.gc.ca/eic/site/bsf-osb.n ... 02284.html
Correct. As I have stated in other threads, I do not for a second believe that any airline would be denied when they are blowing millions per day with zero end in site.
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dialdriver
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Re: Chapter 11.

Post by dialdriver »

flyinhigh wrote: Tue Aug 18, 2020 7:27 pm
dialdriver wrote: Tue Aug 18, 2020 11:36 am
CCAA requires court approval. You can't just declare bankruptcy.

https://www.ic.gc.ca/eic/site/bsf-osb.n ... 02284.html
Correct. As I have stated in other threads, I do not for a second believe that any airline would be denied when they are blowing millions per day with zero end in site.
Not until they are insolvent.
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ragbagflyer
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Re: Chapter 11.

Post by ragbagflyer »

flyinhigh wrote: Tue Aug 18, 2020 11:21 am
Educate me than. I am well aware how business works however thankfully have never had to take a company to CCAA.

Perhaps you don't like the fact that I can't stand the liberals, perhaps you feel it is a bad idea for a Company to file if they have money in the bank.
Why would I care that you can't stand the Libs? I can't either.
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CPT.HarshColdReality
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Re: Chapter 11.

Post by CPT.HarshColdReality »

libs, greens, cons, this becomes a dangerous game of them vs us that leads to scenario like the US of A. No matter what the bloody party is. Every party has pros and cons.We need a strong leader with a BACKBONE, that is also compassionate and has the vision to lead Canada into eternal glory as his only duty.
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Kejidog
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Re: Chapter 11.

Post by Kejidog »

:)
CPT.HarshColdReality wrote: Tue Aug 18, 2020 10:46 pm libs, greens, cons, this becomes a dangerous game of them vs us that leads to scenario like the US of A. No matter what the bloody party is. Every party has pros and cons.We need a strong leader with a BACKBONE, that is also compassionate and has the vision to lead Canada into eternal glory as his only duty.
Holy fack. What dreamworld are you living in? Name one canadian “leader” that operated like this in the last 150 years.
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CanadianPilotQc
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Re: Chapter 11.

Post by CanadianPilotQc »

Localizer wrote: Tue Aug 18, 2020 7:20 pm So the banks (CIBC, BMO, Scotia) received a bailout, the automotive industry received a bailout (GM’s bailout equaled $447,000 per worker), the oil industry has received a “loan” (bailout), and northern air operators can dip into a $75 million fund.

But the airlines can go @#$! themselves ...

:roll:
I'm pretty sure the fact that Air Canada has 7ish billions in cash reserve doesn't help them at getting some help(bailout).
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CPT.HarshColdReality
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Re: Chapter 11.

Post by CPT.HarshColdReality »

Kejidog wrote: Sun Aug 23, 2020 8:20 am :)
CPT.HarshColdReality wrote: Tue Aug 18, 2020 10:46 pm libs, greens, cons, this becomes a dangerous game of them vs us that leads to scenario like the US of A. No matter what the bloody party is. Every party has pros and cons.We need a strong leader with a BACKBONE, that is also compassionate and has the vision to lead Canada into eternal glory as his only duty.
Holy fack. What dreamworld are you living in? Name one canadian “leader” that operated like this in the last 150 years.
That's not a reason not to have one...Time to wake up and construct a true nation. May the North be strong and free!
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Localizer
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Re: Chapter 11.

Post by Localizer »

I'm pretty sure the fact that Air Canada has 7ish billions in cash reserve doesn't help them at getting some help(bailout).
I’m talking about the industry as a whole, not just one carrier. I’m in favour of a free market where carriers rise and fall by their own decisions .. this is currently not the case. Ottawa’s decision to take a hardline on border restrictions and not incorporate some kind of science based approach is tightening the noose on the industry. If Ottawa feels that is the safest and best approach, fine .. but now we need to discuss methods of bridging the airlines to the other side of that decision. (LEEFF doesn’t work)
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