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Air Canada stock plunges 30% as it cuts capacity in half

Air Canada will cut capacity by 50 per cent in the second quarter as it deals with the fallout of the COVID-19 pandemic that’s resulted in travel restrictions and mass cancellations for airlines around the world. Canada’s largest airline announced Monday that it will seek to save $500 million in cash by cutting costs and deferring capital spending. It also suspended its financial guidance for 2020 and 2021. ( More...

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Jeff Phipps 2
Im not very happy with AC right now. I booked a flight to Ft. Lauderdale at the end of Feb for a flight at the end of March. If I cancel they keep about 75% of the fare and fees or I could get a credit to be used in the next 9 months. They will probably cancel the flight but send me emails to ask if I want to cancel. They are playing a game of chicken to see who cancels first. If they cancel first they have to give me a full refund. Canada has practically banned cross border trips and non-essential flying, but good ole Air Canada still won't offer unconditional refunds. You suck AC!

[This poster has been suspended.]

Don Quixote -2
lock her up


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