Don't Miss: Air Canada CEO Calin Rovinescu onBNN tonight Might answer some questions...?
CP chief executive Hunter Harrison is probably the only leader of a large public company in Canada who has matched the turnaround success of Air Canada's Calin Rovinescu. Since becoming CEO of Canada's largest airline in 2009, Rovinescu has secured long-term labour peace, maintained its status as North America's only four-star carrier, and witnessed its share price rise eight-fold. On 'Weekly with Andrew McCreath' this week, I chat with Calin about Rouge, its leisure banner; share buybacks; low oil; our falling dollar; the company's fleet reconfiguration -- and more.
While he doesn't like the low loonie, low oil has more than offset this negative (LINK). Speaking of oil, we discuss what Air Canada does with respect to hedging energy prices. As the dominant Canadian owner of gates at U.S. airports, Air Canada is well positioned from the fact U.S. carriers have reduced inbound capacity to Canada, as they've figured out the low loonie has hurt their revenue opportunity.
Recently, Air Canada completed buying back six per cent of its shares outstanding. Will it buy more back? Tune in to find out.
Watch 'Weekly' on Friday at 5:30, 7:00 & 9:00 pm ET or Saturday (12:30 pm & 8:30pm) or Sunday (4:30 pm)