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

AIR CANADA

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Air Canada : IATA calls on Canadian government to adopt testing initiatives

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09/16/2020 | 08:32am EDT
IATA calls on Canadian government to adopt testing initiatives

The International Air Transport Association (IATA) has urged the Canadian government to support the COVID-19 testing initiatives of Air Canada and WestJet as a means to safely re-open Canada to international and domestic travel without the need for blanket quarantine measures.

International traffic to Canada has plummeted since quarantine measures were introduced in March 2020.

IATA's Director General and CEO, Alexandre de Juniac, said: “There are alternatives to the quarantine measures currently in place that can both keep Canadians safe and revive the economy. The ICAO multi-layered approach (Take-off guidance) is one. The work that Air Canada and WestJet are doing on testing adds another dimension. It is critical that the Government of Canada acts on these before the economic and social damages become permanent and the public health consequences of mass unemployment become even more apparent.”

The economic impact on Canada as a result of the COVID-19 pandemic has been severe. IATA estimates that revenues generated by airlines with service to/from/within Canada could fall by $22.6 billion (70 per cent) when compared to 2019. This puts at risk nearly 410,500 Canadian jobs and some $39 billion of Canada's GDP, which is generated by aviation directly and indirectly, as well as by aviation-related tourism. In addition, air transport in Canada directly and indirectly supports some 633,000 jobs. In total, 3.2 per cent of the country’s GDP is supported by the air transport sector and foreign tourists arriving by air.

© Russell Publishing Limited, 2020. All Rights Reserved., source Trade Journals


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Financials
Sales 2020 6 901 M 5 157 M 5 157 M
Net income 2020 -4 042 M -3 021 M -3 021 M
Net Debt 2020 6 715 M 5 018 M 5 018 M
P/E ratio 2020 -1,08x
Yield 2020 -
Capitalization 4 454 M 3 346 M 3 328 M
EV / Sales 2020 1,62x
EV / Sales 2021 1,11x
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 15,01 CAD
Spread / Highest target 133%
Spread / Average Target 53,6%
Spread / Lowest Target 13,3%
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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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