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Transport committee You are quite correct. What will happen is that Aveos employees who have specific expertise will go find jobs with those other companies. If the companies have the talent necessary, we will give them contracts. As I said, we have already started talks with some of those companie
March 29th, 2012Committee meeting
Calin Rovinescu
Transport committee Absolutely. Not only will we give priority to Canadian companies, but we will also encourage foreign companies to come set up shop here and hire Canadians to do the work.
March 29th, 2012Committee meeting
Calin Rovinescu
Transport committee That will depend on the people we find in Canada to do the work. There were 2,600 people who worked for Aveos, while Air Canada has 2,400. Therefore, in total, there was a group of 5,000 people. I don't know if, with all the other airlines based in Canada, the same number will b
March 29th, 2012Committee meeting
Calin Rovinescu
Transport committee That is exactly the direction we are heading in. We want to identify pools of talent, Canadian and foreign MROs that are prepared to hire Canadian workers who have talent. I might ask Duncan Dee, our chief operating officer, to talk a bit about the kinds of MRO opportunities we
March 29th, 2012Committee meeting
Calin Rovinescu
Transport committee I did not hear your question.
March 29th, 2012Committee meeting
Calin Rovinescu
Transport committee With some maintenance contracts, we tend to opt for long-term contracts. However, because of the Aveos bankruptcy, we signed some contracts that were quite short-term. In the industry, however, the general practice is generally to commit to longer time periods. For example, we ha
March 29th, 2012Committee meeting
Calin Rovinescu
Transport committee No. We will probably start doing some things internally again. That is why it is likely that we will eventually hire very specific staff that we will need in-house at Air Canada. We have increased the number of maintenance employees by 35% since 2007 and we will continue to do so
March 29th, 2012Committee meeting
Calin Rovinescu
Transport committee Yes: 2,400 maintenance employees at Air Canada.
March 29th, 2012Committee meeting
Calin Rovinescu
Transport committee No. Indeed, as a result of the Aveos dynamic, we expect that we would be looking to hire more people over the passage of time.
March 29th, 2012Committee meeting
Calin Rovinescu
Transport committee In Canada. Virtually all of our maintenance employees are in Canada, because that's where we do our own maintenance work, and when the company was sold in 2004 we retained a large portion of that. Since 2007, as I indicated, we actually increased the number of Air Canada maintena
March 29th, 2012Committee meeting
Calin Rovinescu
Transport committee Right.
March 29th, 2012Committee meeting
Calin Rovinescu
Transport committee That is correct. Not only do we not intend to terminate jobs, we intend to increase jobs inside Air Canada as time goes on as a result of that.
March 29th, 2012Committee meeting
Calin Rovinescu
Transport committee I don't have that, but we can get that statistic to the committee.
March 29th, 2012Committee meeting
Calin Rovinescu
Transport committee We understand that about 60% to 65% of their revenue came from Air Canada last year.
March 29th, 2012Committee meeting
Calin Rovinescu
Transport committee We understood Aveos was running out of cash. We proposed several alternative financing arrangements to them, including this $15 million, which was referenced as debtor-in-possession financing. If they had chosen to restructure, it would have allowed for an orderly restructuring.
March 29th, 2012Committee meeting
Calin Rovinescu