Air Canada warns employees it must change to avoid bankruptcy

Air Canada’s chief executive officer, Calin Rovinescu, has warned employees in an internal memo that the airline needs to change its business model or risk following American Airlines into bankruptcy. Rovinescu said that the airline’s business model is broken and its employees must be “open to change” for the airline to stay competitive. He described American’s entry in Chapter 11 protection as “sobering news” and that American’s struggles compare with those at Air Canada. He says: “While we have made good progress in such areas as fleet renewal, improvements to our liquidity and balance sheet, and some areas of cost