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Never regret thy fall, O Icarus of the fearless flight
For the greatest tragedy of them all, is never to feel the burning light.
~ Oscar Wilde
The myth of Icarus flying too close to the sun is a story of both hubris and complacency. It mirrors the current fall of the airline industry during the COVID-19 outbreak and the subsequent flight curtailment. Many companies overspent on share buybacks during the last decade and failed to provide a sufficient buffer for this unprecedented downturn. Unlike other carriers, Air Canada (AC.TO, ACDVF) has the financial