If Canadians were going to “stick it to Trump” by offsetting a decline in travel to the US with an equivalent boost in domestic travel, apparently Air Canada didn’t get that memo. Canadian exceptionalism, it seems, is characterized by a mass of financially exhausted marginal consumers.
Shares of Air Canada (AC.TO) fell over 10 per cent on Tuesday, after the airline’s quarterly earnings missed expectations.
The airline continues to see lower demand for trips to the U.S., with revenue dropping 11 per cent on eight per cent less capacity, says president and CEO Michael Rousseau.
No surprise
I’m guessing Air Canada gets the bulk of its profits outside of Canada
l eschew stock mkt. lm the guy that buys high and sells low. but even *I* know 10% drop overnite is bad news.
well, most folks. looks real real good on THEM seeing as their one of the worst offenders for ‘getting it wrong’ with disabled travellers. ask my CMT daughter who refuses to fly A/C
Air Canada is a highly volatile stock and AC has gone bankrupt in the recent past despite the gov’t support of the Quebec centered mess.
Look at the chart for 5 years and u can see a big drop by AC is not unusual …. there are 40% drops … it is a POS from an investment point of view unless u want to play the volatility which I would never recommend but it is what the banksters computerized trading is doing. LINK https://www.theglobeandmail.com/investing/markets/stocks/AC-T/
Phew! Good thing to know that 10% drops and loss of profits isn’t really a problem for Canadian stocks. Geeze, no wonder your Euro-banker PM is 100% invested in the US stock market. At least he’s not stupid level “Canada First”.
The only thing that Canadians are “exceptional” at is weaponized cheapskatedness.
Canadians aren’t travelling so that they can save money to buy the obligatory Chinese EVs.
Of course, most will never to be able save enough anyway.
Does anyone willingly fly Air Canada? My last experience with them was a 3 hour late fight, and a gate agent walking around demanding everyone put their carryons into the bag size checker while being surly.
Last week, my GF spent a few days in the Laurentians; I joined her in Montreal on Friday, and we went to the family cottage on Lake Champlain for a few days. She drove while I took the train to Montreal, and we drove together after that. The fear of ruining a vacation by depending on Air Canada is one I no longer wish to entertain.
She booked the train for me; I was going to take the bus. She said the train was more comfy and about the same price, so I let her book it. Big mistake. The bus was $86. The train – one way, senior, weekday – was $282, and it was delayed so it ended up slower than the bus. I later found I could have taken Porter for $162. Why do we need Via and Air Canada again?
Next year, we are talking about taking a month to visit Bryce and Zion canyons, among other points. At no point did we consider flying. Driving through the northern midwest and west is refreshing after spending too much time in Toronto.