Aveos stated (19-Mar-2012) it has filed for insolvency protection under the Companies' Creditors Arrangement Act (CCAA) after ceasing maintenance operations in Montreal, Winnipeg and Vancouver on 18-Mar-2012. Aveos President and CEO Joe Kolshak said, “This was an extremely difficult decision, one we made only after lengthy and careful consideration of all other options. We deeply regret the job losses and the impact this decision has on our employees in Canada”. The company employs approximately 2,600 employees across Canada. Air Canada stated that these events at Aveos, while disappointing, have no impact on Air Canada's day-to-day line maintenance operations. The carrier stated it is prepared with a contingency plan to ensure continuity of this work and it will continue to be performed in compliance with all regulatory and legal requirements. Aveos said it sought protection from creditors amid “uncertain work volume” after losing as much as CAD16 million (USD16.2 million) in revenue in less than two months as Air Canada cancelled and delayed maintenance work. Airframe maintenance work stopped permanently on 19-Mar-2012 and the company has not yet decided on its other operations. [more - original PR - Air Canada] [original - PR - Aveos I] [original - PR - Aveos II] [more - original PR - Aveos - III]
Aveos files for insolvency protection, will have no impact on Air Canada day-to-day line maintenance
You may also be interested in the following articles...
North America: bad news and good news: yields chase lower fuel prices down
A continued reprieve from higher fuel costs should again yield healthy profits for North American airlines during 2016.
Air New Zealand defends Australia-USA transit market as Qantas plans further USA growth with 787-9s
Air New Zealand is turning up the volume. For years the airline had a tidy, under-the-radar business carrying transit passengers between Australia and the US over its Auckland hub. Air NZ is now directly targeting the Australia-USA market with a sales and marketing push that includes an advertising campaign called "Better Way to Fly". CEO Christopher Luxon said in a statement that "capturing just a little bit more of that market would see hundreds of thousands more Aussies flying with us to North and South America...Many Australian travellers still think of us as a trans-Tasman carrier and that’s a perception we’re determined to change."
The shift that Air NZ envisages is being sought now – and not five or even 10 years earlier – largely because of external factors and competition. Air NZ's marketing may suggest an opportunistic push, but the reality is Air NZ is on the defensive. In the Australia-Americas market competitors have lowered their costs, adding city pairs, product improvements and significant capacity growth. 2017 and 2018 are expected to mean even more growth as a resurgent Qantas adds 787-9 services between Australia and the US, and in particular – to Dallas.