It was a rough quarter for AC. I quickly ran a whiz wheel and came up with the following conclusion:
Even if AC management could have rewritten the Pilot's contract a year ago and had their way - the quarter would still be a disaster. The problem is not the pilots nor is taking another haircut going to fix anything.
JJJ
Tough quarter.
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Norwegianwood
- Rank 4
- Posts: 291
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Re: Tough quarter.
Calins's barber shop, everybody line up for a short back and sides................... 
http://business.financialpost.com/2012/ ... s-closure/
http://business.financialpost.com/2012/ ... s-closure/
Re: Tough quarter.
That's our commander and its just another day at the Stalag ;
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Re: Tough quarter.
Reporting
Cash on hand reserves up another $135 million to around $2.25 billion
$120 million charge for the AVEOS "bankruptcy"
AC excercised options on 5 777 for delivery in 2013 and 2014
Combining AC.b and AC.a stocks? Why? Is this to get around foreign ownership rules?
Stockpiling cash when you show quarterly losses? Hmmm.
Why weren't load factors reported?
79.1% in Janaury (increase of 1.1% over 2011)
76.8% in February (increase of .9% over 2011)
81.5% in March (increase of 2% over 2011)
83.0% in April (increase of 1.1% over 2011)
Pretty full planes despite the accusations of labour disruptions affecting bookings.
Pension solvency:
"At the same time, for every one per cent increase in interest rates, the solvency deficit is reduced by roughly another $1.7 billion." By my math, a 3% raise in interest rates wipes out the pension shortfall.
Arrogance:
"To those employees who have lost total faith in management, he said "they ought to work in a co-operative where they get to decide."
Threaten to discipline union leaders during negotiations.
http://www.theglobeandmail.com/globe-in ... le2396734/
Nice leadership and management. Keep your $5 million retainer CR. You certainly have earned it
Oh, and I see that EBITDAR was C$175 million, down 15% from a year ago but within the company's anticipated C$170-C$180 million range. That means that executive salaries will rise and they qualify for their bonuses.... oh and what has the stock done? Traded at a 52 week low of $0.78 in March compared to when CR took over in the low-mid $3.00 range.
Pissed off employees, pissed off shareholders, pissed off government (IMO).
Slow clap.
Cash on hand reserves up another $135 million to around $2.25 billion
$120 million charge for the AVEOS "bankruptcy"
AC excercised options on 5 777 for delivery in 2013 and 2014
Combining AC.b and AC.a stocks? Why? Is this to get around foreign ownership rules?
Stockpiling cash when you show quarterly losses? Hmmm.
Why weren't load factors reported?
79.1% in Janaury (increase of 1.1% over 2011)
76.8% in February (increase of .9% over 2011)
81.5% in March (increase of 2% over 2011)
83.0% in April (increase of 1.1% over 2011)
Pretty full planes despite the accusations of labour disruptions affecting bookings.
Pension solvency:
"At the same time, for every one per cent increase in interest rates, the solvency deficit is reduced by roughly another $1.7 billion." By my math, a 3% raise in interest rates wipes out the pension shortfall.
Arrogance:
"To those employees who have lost total faith in management, he said "they ought to work in a co-operative where they get to decide."
Threaten to discipline union leaders during negotiations.
http://www.theglobeandmail.com/globe-in ... le2396734/
Nice leadership and management. Keep your $5 million retainer CR. You certainly have earned it
Oh, and I see that EBITDAR was C$175 million, down 15% from a year ago but within the company's anticipated C$170-C$180 million range. That means that executive salaries will rise and they qualify for their bonuses.... oh and what has the stock done? Traded at a 52 week low of $0.78 in March compared to when CR took over in the low-mid $3.00 range.
Pissed off employees, pissed off shareholders, pissed off government (IMO).
Slow clap.
