I've flown all over the place, within Canada and to other countries, and so far I have always brought my bicycle with me ..... and so far it has been fine.
I would suggest going with WestJet if you can - they don't charge as much as Air Canada for the bicycle, and their people are really friendly.
Neither WestJet nor Air Canada sell boxes (other airlines in other countries do) so you have to find a box elsewhere. You can take the bicycle apart and pack it at home, or you can ride your bicycle to the airport and do it right there. I've done both.
Take the bicycle, in the box, to the check-in counter and they'll handle it from there.
When you arrive at your destination, be prepared for a little bit of a treasure hunt to find it again - it appears in different places ... on the carousel, in the oversized luggage area, next to the wall three carousels over, or wherever. Once they brought it out to me after everyone had gotten their luggage and gone home. But don't panic ... it should be there somewhere.
Then, if you use a cardboard box, you can put the bicycle together right there in the airport, and ride off!!