Uncleon,
First off I have been at AC for 12 years.
I am going to play devils advocate here to show you how others view the Lou. But before I do, I want to make it clear I am not in anyway advocating its termination with adverse affects on anyone. Nor am I suggesting ACPA or Air Canada want to terminate the agreement.
One huge thing you have going for you is ACPA has approved each and every one of the freezes. Meaning ACPA has directly recognized your seniority number. That has not taken place before. Relax

I am not trying to stress you out. The issue from the off the street group is money not seniority. They want to be treated equally for pay purposes.
Now to the devils advocate
]L18.07 If there is a total sale or divestiture of any Air Canada Connector Airline, then the pilots of that carrier will be removed from the Combined Seniority List of Air Canada Connector Airlines, subject to the Laws of Canada.
I have asked AC directly about this and it does not mean removed from the AC list it says removed from the connector airlines list (Jazz).Meaning once its sold you cant be on both lists.It does not say removed from the air canada list.
Did you see what you just wrote. "
Once it is sold......you can't be on both lists." How are you on both lists then? AC does not own a connector.
You are correct it does not say removed from the ACPA list, it says
removed from the Air Canada connector lists. The LOU states it is to afford orderly advancement to the ACPA list,
from the Air Canada connector list. If total divestiture takes place that group of pilots get
removed from the Air Connector list. See where this is going? If you are not on the Air Canada connector list, this LOU does not apply to you. In order to be on the Air Canada connector list you must be at least partially owned by AC.
Now go back to 2005 when AC started hiring. Jazz had already been divested and had been created as a separate entity. IPO'd and all. Did the LOU apply to Jazz? I know you have been given AC's version of why the LOU pertains to Jazz pilots but read it again from the point of view of a new hire. Read it exactly as it is written.
A new hire would ask. Just a minute if the LOU doesn't apply to them why are they getting extra cash when I am not?