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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Air Canada    AC   CA0089118776

AIR CANADA

(AC)
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Air Canada : Airlines demand 'concrete plan' for financial aid following throne speech

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09/24/2020 | 11:53am EDT

OTTAWACanada's flight industry is taking some heart in signals from the throne speech that federal financial help is on the way but wants to see quick, clear action to support the sector, which has been devastated by the COVID-19 pandemic.

The government's speech from the throne Wednesday pledged "further support for industries that have been the hardest hit, including travel and tourism."

The National Airlines Council of Canada says Prime Minister Justin Trudeau's government needs to "immediately come forward with a ... concrete plan" to help the travel sector recover.

The council, which represents the largest Canadian carriers like Air Canada and WestJet Airlines Ltd., says passenger numbers are down 94 per cent from 2019 amid ongoing travel restrictions.

Canadian Airports Council president Daniel-Robert Gooch says tens of thousands of air industry jobs have been lost since March as costs and debt pile up, with the throne speech offering "some hope" to staunch the bleeding.

Unlike countries including France, Germany and the United States, Canada has held off on sector-specific support for carriers, instead rolling out financial aid available to many industries, such as a wage subsidy and loans starting at $60 million for large firms.

This report by The Canadian Press was first published Sept. 24, 2020

Companies in this story: (TSX:AC)

© 2020 The Canadian Press. All rights reserved., source Canadian Press DataFile


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Financials
Sales 2020 6 901 M 5 175 M 5 175 M
Net income 2020 -4 042 M -3 031 M -3 031 M
Net Debt 2020 6 715 M 5 035 M 5 035 M
P/E ratio 2020 -1,06x
Yield 2020 -
Capitalization 4 474 M 3 363 M 3 355 M
EV / Sales 2020 1,62x
EV / Sales 2021 1,12x
Nbr of Employees 33 000
Free-Float 74,0%
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 23,06 CAD
Last Close Price 14,73 CAD
Spread / Highest target 138%
Spread / Average Target 56,6%
Spread / Lowest Target 15,4%
EPS Revisions
Managers
NameTitle
Calin Rovinescu President, Chief Executive Officer & Director
Vagn Ove SÝrensen Chairman
Michael Stewart Rousseau Chief Financial Officer & Deputy CEO
Catherine Dyer Chief Information Officer & Senior Vice President
Michael M. Green Independent Director
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