Omar Alghabra responds to a question about why the airline industry should get public funds after promoting flights to sun destinations.
#cdnpoli
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What a used car salesman term.”public money”. You mean either 1) taxpayers’ money or 2) money deflation.
Bailouts for Canadians, not for companies. Let the market dictate who is profitable, no such thing as too big to fail.
@Neal Croskery will never happen
@FPScanada Unless we institute a Christian reformation, We are going to be lifted off the land just like those Indians on the Res.
Okay but then couldn’t you also say that companies’ money is actually “customers’ money”? And that that money is actually their employers’ money? It never ends.
If it’s in government coffers then it’s easiest to just call it public money.
Implying they deserved public funds before
Yes
@szbxa postal service and roads are publicly owned. Canadian Airline companies are not. Apples and oranges
@szbxa LMAO someone does not understand public vs private
@T-rolling All-Ways You do realize AC will become partially owned by the government if it takes funding right? Stop embarrassing yourself son.
@szbxa were 1.4 trillion in debt and have not tabled a budget in two years we dont know how long the loans are for on our debt or the interest rates and there’s no need to bail out or buy an airline with tax payers money we don’t have. Your probably have never invested or even understand what a portfolio is.
The ceo deserve minimum wage for 5 year and forfeit their stock options and bonus to the fed.
👌👌👌✔👍
The CEOs already have their agreements worth who knows how many millions. If they resign they get great sums of money. And they want public money. Maybe the CEOs should give up some of those millions to help their own industry, instead of asking for tax payers money.
AIR CANADA gross
profit for 2019 was 10.25 Billion LMAO but they need out money LMAO
So will the bailout go to all the employees who have been laid off?
That is the 100 Billion Dollar question.
Hope so, travel agencies and agents included !
Does it ever?
No, it would go to cover “essential expenses” such as their operational costs, equipment, and corporate debts. This would not be going towards those laid off as they were deemed “non-essential” before hand.
Bailouts for Canadians, not for companies. Let the market dictate who is profitable, no such thing as too big to fail.
The market didn’t ban travel, the government did. Even if the ban is justified, this isn’t a company failing because they mismanaged their business, it’s a company failing because governments imposed unforeseeable restrictions on them. In my eyes this applies more so to restaurants, hotels and small tourism businesses who don’t have the resources to fall back on to get them through this.
Its not profitable if they’re not allowed to run their business.
Exactly what I said!! What happened to the magic of the marketplace?
@blupheonix44 Because the state is forbidding you to conduct business. World of difference between you having a poor business model that doesn’t attract customers and the state forbidding you to conduct business at the point of a gun.
The same airlines that refuse to refund passengers who’ve had to cancel or rebook flights due to Covid? They absolutely DO NOT deserve a bail out.
@L. B. sure……so to my original question…how has Air Canada profited off the pandemic.
boycott them
@Tom Cameron they haven’t. For their shady actions in the past and for the way they treat their customers even during this pandemic tho…they def don’t deserve a bailout. It’s a private company 🤷🏽♂️
@Sehraad Ahmed’s so with that logic no private business should get financial aid for government induced restrictions? Got it
@Caren Look lol okay…..
What about the 30% of small businesses that have already went bankrupt????!!!!!! Nothing for them???
The problem with small businesses is that they don’t buy their politicians; they vote for them.
@angelina karb
I haven’t a clue what you’re going on about. How about you read what I wrote, take some time to comprehend it, and then reply to me.
@Dennis Xu My reply was suppose to be referred to Tom Cameron, not you. There is no need to be rude, buddy.
@angelina karb
You should fix that instead of replying to me
@Dennis Xu Take it easy,,,
By public found , you mean like my personnal hard earned money ? (taxes)
How about instead you point fingers at the horribly mismanaged CERB/EI program. The federal government is responsible for throwing out far more money than the airlines will ever get.
Cerb/EI as of dec 2020 = 81.64 Billion. Estimated from Finical post. Yahoo Fin post and multiple others. 25 Billion for airlines. add in stock buy backs for airlines and the fact Canadians pay into ei at roughly 20 billion, plus You saying tax payers can use tax payers money for a tax payer bail out but a private companies should ???? hmmmm
@Mark and who cares about CERB, 400 billion let me say that again 400 billion bought in government bods and treasuries and then sold at a loss. LMAO but CERB
@T-rolling All-Ways I disagree with you. I think tax payer money SHOULD be used to bail out the airlines in this case. Crippled airlines with ruin our economy, since they are absolutely essential to such a large country. Without any support, you will be paying $4000 for a ticket yyz-yvr. Nevertheless, EI is absolutely essential; however, it has been horribly mismanaged over the course of the pandemic.
I love the like dislike ratio on these “breaking news” videos
CAN SOMEONE EXPLAIN WHY? OR ITS JUST THAT THESE NEWS ARE ACTUALLY FALSE?
That is the cost of doing business, ie Capitalism. So no, unless the government subsidizes me.
@Nate Baker if you have government interference in the capitalist mode of production, you’re still capitalist
@Karl Marx capitalism will always prevail.
@Karl Marx Government regulation is what then? yea thought so. They are a private business if the close they close.
@T-rolling All-Ways government regulation is government regulation lmao, Canada according to a right wing think tank, the heritage foundation is one of the freest markets in the world.
@John Hendrixson ok
We had to bring our daughter home and were stuck with non-refundable tickets……. the airlines want there cake and to eat it too! If money goes to employees fine! To hell with the rich 1% share holder weasels!
There are really two airlines in Canada depending on where you live. I would rather see the Feds temporarily nationalize our carriers rather than give public funds to a privately invested duopoly. This becomes especially apparent in the way Westjet and Air Canada have colluded on pricing pre pandemic as if they were one club of two carriers. Add to the fact they would not give refunds for travel never likely to happen and they both need to clean management house. The worst feature of the Canadian flying landscape is the way they hold domestic passengers hostage with going predatory on Porter and other small carriers. The pandemic is just an opportunity for the industry to reinvent itself. We certainly could use some regulation on domestic route structure so Air Canada doesn’t drive competitors out like Porter in regions begging for adequate service.
very well said
I’m really gonna miss the oreo – sized steaks and lukewarm coffee
you wont be happy when you have to pay $4000 to fly yyz-yvr
Only problem is when its all said and done air Canada will be the only remaining operator and all Canadians will be stuck buying tickets on foreign operators
No, their execs need a pay cut if they want more public funds
How about small family business. Haven’t they been hit just as hard or even harder?
If it applies to them, it should apply to EVERY other company.
There has been many interest free loan guarantees offered to small and medium size businesses since the start of the pandemic as early as April 2020. Those programs apply to every company.
@Neural Mindset LMAO okay sure bubs that’s how it all worked and it flowed so nicely. lol
You know who deserves Canadian taxpayers money?? Canadian taxpayers.
Yes , yes and yes .
Absolutely not, huge companies like airlines don’t give a crap about their employees or the ripple effect, the CEOs get big fat bonuses for doing their jobs and have no heart for any of their customers, charge for every little thing and always have their hand out. As far as I am concerned, they should better manage the revenue the do get and stop catering to stockholders, stop threatening to fail if you don’t get more subsidies from taxpayers and take your lumps like everybody else!
we should just give them a voucher for a one night stay at a nearby hotel
“Hit hardest by Covid “ No!! They’ve been hit hardest by government restrictions.
“All Canadians have been hit hard” except politicians who even when they resign get a $150,000/year pension with another $206,000 available.
They should not receive bailout unless they agree to stop recalling commissions that we as travel advisors have had to pay back to them when flights cancelled. We did our job and worked even after COVID started. Many many hours making sure our clients got home and then rebooking. Still working on rebooking…