Government action/inaction is an easy target here, but it’s far from clear that it’s the actual problem.
Provinces are responsible for healthcare provision; they need to act accordingly. Are they violating Canadian Rights and Freedoms? Probably. Will that stand up in court? Depends - if the notwithstanding clause can be invoked here, it’s a good punch line, but it carries no weight.
Government funding? On some level, I think we all know that AC’s future isn’t actually at risk. In a worst case, the Government will take over. The question, then is, what strings should be attached to government aid to make a bailout worthwhile for taxpayers - and would be better for taxpayers than just taking majority control/full ownership. I haven’t a clue. Somebody else might.
But even these are relatively minor issues in the grand scheme of things. To my knowledge, there aren’t many provincial restrictions in the key population centres - Ontario, Quebec, BC, Alberta. Yes, the maritimes and northern territories are placing restrictions, but the former is hardly a major population base, and AC doesn’t serve the latter.
That nobody is flying suggests that the bigger, undervalued problem is that Canadians aren’t comfortable getting into planes - especially now that AC/WS are back to filling every seat. If this is a reflection of Canadian risk aversion going forward, then it spells real trouble for CAN carriers.
Which, I suspect, is why AC is attributing this downturn to everything but pax sentiment. The moment this becomes about low demand, rather than suppressed demand, those stock prices are off to the roller coasters in la ronde.