REMAKING AIR CANADA NO EASY TASK
Four and a half years ago, Air Canada emerged from bankruptcy protection after an arduous 18 months of restructuring and cost-cutting. Today, it seems to need an even more extreme cure.Â
Certainly, that was a reasonable inference from the airline's unexpected and abrupt move this week to bring back Calin Rovinescu, a corporate lawyer assigned to wield a sharp knife during the earlier restructuring, as chief executive officer.
A key question that remains to be answered, however, is how the airline will be able to accomplish in 2009 the permanent repair of its business model that it failed to carry out during its first restructuring.
, April 2, 2009
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