Air Canada bailout buys time - but Canada Inc sells out to forces of protectionism

The Canadian government is simultaneously bailing out its flag carrier and blocking entry by foreign airlines - on the basis that they are "instruments of government policy". Air Canada is far from safe, even with the bailout. But there is a special irony here. The government justifies its action as a matter of "national interest". As the legacy airline industry looks for a future, this begs the question of whether that future should focus more on the economic importance of airlines, rather than their financial well-being.