The early 1990s was the heyday for Canadian Airlines International. Just a few years earlier they had acquired Wardair, CP Air and a host of partners airlines across Canada including Eastern Provincial, Nordair, Quebecair, Time Air and Norcanair.

It was also at this time that massive losses were mounting at the airline as the Canadian economy was in full recession, unemployment was 12 percent nationwide, passenger load factors were down dramatically, and the Canadian was taking delivery of new A320s, 767s, and 747s. As is often the case in the airline industry, airlines order aircraft in good times, and take delivery in bad times. And this was a perfect textbook case of this sad reality.