Bullboard - Stock Discussion Forum Air Canada T.AC

Alternate Symbol(s): ACDVF

Industrials Airlines

Air Canada is an airline company. The Company is a provider of scheduled passenger services in the Canadian market, the Canada-United States (U.S.) transborder market and the international market to and from Canada. It provides scheduled service directly to more than 180 airports in Canada, the United States and internationally on six continents. The Company’s Aeroplan program is Canada's... see more

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TSX:AC - Post Discussion

Air Canada > Fitch downgraded AC to BB-

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Post by lb1temporary on Jun 21, 2020 9:30pm

Fitch downgraded AC to BB-

(From CIBC Airlines and transportation weekly)

Fitch Downgrades Air Canada On The Assumption Of A Slower Recovery

Fitch ratings downgraded Air Canada’s Long-term issuer default rating to BB- from BB; outlook remains negative. While Fitch believes Air Canada should have sufficient liquidity to manage through this crisis, assuming a modest recovery begins in the second half of 2020 and continues into 2021, Fitch has revised its forecast since its previous review to include a steeper downturn in 2020 and slower recovery in 2021. Fitch noted that it believes Air Canada is at a higher risk than other carriers given its reliance on international traffic. In 2019 30% of passenger revenue was from domestic travelers, while 48% was from transborder and trans-Atlantic travel and the remainder from Pacific and other non-domestic travel.

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