It is almost certain that Air Canada, by the end of the year will be in bankruptcy protection. But let me offer one certainty.

The Air Canada name will live on and we don’t have to fear losing our tickets as a result of bankruptcy or restructuring.

But you can be sure routes will be cut and frequency to some markets decimated.

The second certainty in my mind is that Westjet, even though it is suffering from some of the same challenges, will not only not need to go into bankruptcy protection, but will use Air Canada’s misfortune to gain even a larger share of the domestic market.

It will also grow into the United States and its careful strategy of expanding its Westjet Vacations divisions suggest it too will grow and erode some of the other tour operators, including Air Canada Vacations.

We are seeing a slow down in overseas bookings and it is likely to hasten Air Canada’s decision to restructure. And I have suggested, don’t worry, there are always people willing to through more money at an industry that taken over history has likely never made anybody any money for any sustained period of time.