Air Canada: From One Crisis to Another |
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Troubles, Troubles Everywhere! Contd...However, these stakeholders were reluctant to give their consent unless the employees too agreed to share the losses. Air Canada had already announced plans to cut down its fleet capacity by 15% and lay-off 3,600 employees in March 2003. When rumors of further possible job cuts spread, the company became embroiled in a tussle with its labor unions as well. As uncertainty about the company's future continued, industry observers commented that it would indeed be a shame if the once mighty Air Canada that had survived many earlier crises, were to fail to reorganize itself and become profitable once again. Background Note
By 1942, TCA had established a transcontinental route system. In 1942, Canadian Pacific Railways bought ten small regional airlines and merged them to form Canadian Pacific Airlines (CPA).
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