What were the revenues in 2003 when Air Canada went bankrupt ... I think they were around $10 billion ... revenue means nothing if the bottom line isn't there!!
Air Canada screwed it's shareholders and suppliers in 2003 and was recaptialized in 2004 but managed to drive the share price from $21 to $1 in only 5 years and squander any advantage it had gained in the restructuring. Is the reorganizing of 2012 going to fair any better ... perhaps in the short term but long term this airline is uncompetitive in almost all metrics and doomed.