Three Cheers for Maloway
What strikes me is that American airlines already provide much of what Maloway suggests. They frequently over-book flights, but always offer free flights to induce passengers to volunteer to be bumped. In these cases and other instances of overnight delay, they issue hotel, meal and taxi vouchers. I cannot see why it would be unrealistic for Canadian airlines to provide the same basic level of service.
Canadian air travel seems like one of the only legal transactions where the seller just keeps your money whether or not it provides the advertised product. Kudos to Jim Maloway for trying to restore some balance.