Canada’s business leaders see Jetsgo’s failure as primarily the result of poor management on the part of its President and director’s and officers and to some extent the fault of the Federal Government and its agencies for levying high tax and airport fees on carriers. Concerned about the impact of multiple bankruptcies among Canadian carriers over the past decade on consumers and industry, business leaders favour a number of regulatory and other changes to the industry, including:

• Making all safety reports about each carrier public,
  
• Allowing private competitors to compete in the airport industry,
  
• Requiring advance tickets sales to be put in trust towards providing future flights to prevent airlines from using future dollars to pay for current bills,
  
• Requiring new entrants to show proof of having capital cover six months worth of operating expenses (current rules require proof for three months), and
  
• Allowing foreign airline competition
  

In terms of those Jetsgo’s clients who bought tickets which were never used as a result of the bankruptcy, nearly three quarters of respondents favour the federal Government refunding the tax portion of those tickets.

These are the key findings of this week’s web panel of Canada’s CEOs and business leaders for publication in the Financial Post under the sponsorship of BDO Dunwoody and the Canadian Chamber of Commerce.

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