RE:air canadaGlobe says jury still out on Air Canada's 2016 2015-06-18 08:16 ET - In the News The Globe and Mail reports in its Thursday edition most analysts are bullish on Air Canada ($13.79). Globe columnist Fabrice Taylor writes, however, the enthusiasm behind the "buy" ratings varies a great deal. Analysts appear particularly divided over what will happen next year. If the airline can post strong earnings per share over the next several quarters, Mr. Taylor thinks the shares may benefit from a higher multiple and price. After scraping by without declaring bankruptcy after the financial crisis, Air Canada has more than $3-billion of cash, the pensions are in surplus, there is peace with the unions, debt is down and falling. Also, costs are much lower and still falling, and returns on capital are on the upswing. What stands out about the turnaround plan is the creativity. New, alternative debt financings allowed for more flexibility and lower interest costs. Then there was the creation of Rouge. Its lower cost structure allowed Air Canada to move less efficient planes, notably the Boeing 767s, into the Rouge subsidiary. "Historically, airlines have not rewarded shareholders," said chief executive officer Calin Rovinescu, but, "we are focusing on profitability and margins."