RE:RE:RBC : AC Investor conference May 17I agree with most of your points.
The RBC analysts are right with the Share price in the last 8 months but wrong with the reason for it. I think that the depressed price has more to do with the the pilots negociation than the 2026 Capex program.
As you, I think that all this will be resolved in a few weeks with an agreement with the pilots, followed by a share buy back program. July and august are a critical months for the 2 sides. AC for its high season and the union for its disturbance power. They need an agreement in june otherwise it will be a chaos. Anyway, Canadian pilots strikes only lives 2 days in the past, a forced agreement imposed by the government. Disturbances is the worst case scenario for me. The union behavior shown is positive to date without any disturbance actions, only words; a good sign.
The next weeks, things have to accelerate on that side.
I'm not as optimist as you for a pre-covid SP. That would means a 38% more market value, given that we have 38% more shares outstanding (368 M VS 267 M). Or maybe in a 3-4 years projection. But we are good for a nice ride if the pilots settle with the company.