Thank you.
I'm going to take the final round. I want to follow up with Ms. Thompson on the Air Canada issue.
In your presentation, under “How We Got Here”, you identify both structural and cyclical challenges. You talk about the insolvency in 2004 and the problems of the hedge fund owners, but you also talk about the worldwide crisis in the capital markets.
It is a challenge determining where we should go in terms of structural and cyclical challenges. As a member of Parliament, obviously I fly all the time and I see Air Canada employees all the time. What they say to me is, “I've worked 30 years for the company. I've put my life into this company. I've paid into the pension plan, and I deserve to have a pension.” With the 2004 insolvency, their common complaint--and you've heard it before--is that there was a transfer of assets to ACE as a result of that, and that there were some very large payments to executives or shareholders.
I'm not disputing that, but as a member of the government trying to address it, I can't redo the 2004 agreement or the consequences resulting from it. We have to try to deal with the situation that we have now. That may have been unjust; I'm not going to pass a judgment on whether it was fair or not. But what do you recommend we do as a government to address that person and ensure that he has a pension when he retires in the next five years?
You talked about recognizing the need for extraordinary measures. I think I have a sense of what you would recommend we not do, but what would you recommend we do to address both the cyclical challenges in terms of the markets, and also the structural challenges in terms of the challenges Air Canada is facing?