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Air Canada T.AC

Alternate Symbol(s):  ACDVF

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 premier travel loyalty program, where members can earn or redeem points on the airline partner network of 45 airlines, plus through a range of merchandise, hotel and car rental rewards. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using its passenger and freighter aircraft. Its Air Canada Vacations is a tour operator, which is engaged in developing, marketing, and distributing vacation travel packages in the outbound/inbound leisure travel market. Air Canada Rouge is Air Canada's leisure carrier.


TSX:AC - Post by User

Post by DrInvestoron May 06, 2024 9:09pm
154 Views
Post# 36026118

This is a Buying Opportunity

This is a Buying Opportunity

2024-05-03 07:32 ET - In the News

The Globe and Mail reports in its Friday, May 3, edition that ATB Capital analyst Chris Murray has reaffirmed his "outperform" recommendation for Air Canada. The Globe's David Leeder writes that Mr. Murray raised his share target by a loonie to $33. Analysts on average target the shares at $27.56. Investors punished Air Canada by sending its shares plummeting 8.4 per cent on Thursday after it swung to a loss in the first quarter. However, Mr. Murray saw the results as strong, emphasizing the airline's increased capacity and impressive load factors. Mr. Murray says in a note: "Management remained upbeat on the company's outlook as demand conditions remain supportive and are expected to receive a boost from Sixth Freedom traffic and normalizing business travel in 2024. Management reaffirmed full-year guidance and confirmed that it hedged 50 per cent of expected fuel consumption for Q2/24 at Q1/24 prices. The balance sheet continues to improve, as evidenced by a recent upgrade positioning Air Canada returns to shareholders over the medium term. Given the current demand environment and increased balance sheet flexibility, we remain constructive on Air Canada and see [Thursday's] weakness as a buying opportunity."

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