RE:RE:RE:RE:RE:RE:RE:RE:Q3 (and Q4) outlookAir Canada will buy back 174 M$ (face value) of its 2025 notes. That will left 574 M$ 2025 convertible notes on the market. With its Billions of cash, many in excess i don't understand why it buy back only 174M$. I really have a problem with that. Why so few?
I was a fan of Air Canada but the Financial moves made with and after the Pandemy were difficult to follow: too much borrowing, too much share offering and dilution and a financial position today largely in excess of cash. ....and a buy back of only 174 M$ !!!!!!
Not exactly a mark of confidence.
Note: I own few shares and some 2029 bonds (5% of my bonds portfolio) ; I'm not affraid for these investments but my expectations for the shares decreased a lot and my target is now only in the 25$ -30$ range for 2023.