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

AIR CANADA

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Air Canada : to Make Complimentary COVID-19 Insurance Coverage Available to International Travellers

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09/17/2020 | 09:03am EDT

MONTREAL, Sept. 17, 2020 /CNW Telbec/ - Air Canada today announced that it is including complimentary COVID-19 emergency medical & quarantine insurance for eligible customers booking round-trip international flights. The coverage, available for new bookings made in Canada from September 17 until October 31, 2020, inclusive, provides emergency medical and quarantine insurance designed to give customers added confidence when booking flights and travelling abroad.

"At Air Canada, we know people have personal, family and business reasons to travel. To give them greater confidence as they do so, we have engaged Manulife to offer all Canadian residents complimentary COVID-19 emergency medical & quarantine insurance when they book round-trip flights for travel outside of Canada. Combined with our industry leading airport and onboard biosafety protocols, including Air Canada CleanCare+, and our flexible rebooking policies, customers can be assured that when they book and travel with Air Canada their safety and well-being is our top priority," said Lucie Guillemette, Executive Vice President and Chief Commercial Officer at Air Canada.

The Manulife COVID-19 Emergency Medical Certificate of Insurance (the "Plan") is available for new international, round-trip bookings made in Canadabetween September 17 and October 31, 2020, inclusive, for travel completed by April 12, 2021. If, when abroad, customers test positive for COVID-19, the Plan will provide eligible customers coverage that includes:

  • Up to CDN $200,000 per insured for COVID-19 treatment medical expenses.
  • Up to CDN $150 per person for quarantine costs (meals + accommodation); Up to CDN $300 per family per day up to a maximum of 14 days.
  • Up to CDN $500 for expenses related to return home if the advisory from the Canadian government goes from Level 3 to Level 4 while at destination.

The Plan is available to all Canadian residents, subject to eligibility requirements, and is underwritten by The Manufacturers Life Insurance Company ("Manulife"), Canada's largest provider of travel insurance. It is the most extensive geographical coverage included by a Canadian airline for Canadian residents, covering every international destination Air Canada serves. For full details, including applicable terms and conditions, please see: http://www.aircanada.com/covid-19-insurance.

Air Canada also recently announced that customers booking with Air Canada Vacations will be offered COVID-19 Coverage and Assistance Plan provided by Allianz at no additional cost designed to cover emergency medical and quarantine expenses if COVID-19 is contracted while travelling. It is available to all eligible customers who book an Air Canada Vacations package for travel by April 30, 2021 to eligible destinations. For details please see aircanadavacations.com.

Air Canada has been at the forefront of the airline industry in responding to COVID-19, including being among the first carriers globally to require customer face coverings onboard and the first airline in the Americas to take customers' temperatures prior to boarding. It has introduced a comprehensive program, Air Canada CleanCare+, to apply industry leading biosafety measures at each stage of the journey. As well, to give customers flexibility, it has extended its goodwill policy so that new bookings made up to December 31, 2020 can be changed without fees for original travel up to December 31, 2021.

About Air Canada

Air Canada is Canada's largest domestic and international airline. Canada's flag carrier is among the 20 largest airlines in the world and in 2019 served over 51 million customers. Air Canada is a founding member of Star Alliance, the world's most comprehensive air transportation network. Air Canada is the only international network carrier in North America to receive a Four-Star ranking according to independent U.K. research firm Skytrax, which also named Air Canada the 2019 Best Airline in North America. For more information, please visit: aircanada.com/media, follow Air Canada on Twitter and LinkedIn, and join Air Canada on Facebook.                   

Internet: aircanada.com/media

Sign up for Air Canada news: aircanada.com

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SOURCE Air Canada

© Canada Newswire, source Canada Newswire English


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Financials
Sales 2020 6 901 M 5 189 M 5 189 M
Net income 2020 -4 042 M -3 039 M -3 039 M
Net Debt 2020 6 715 M 5 049 M 5 049 M
P/E ratio 2020 -1,08x
Yield 2020 -
Capitalization 4 454 M 3 346 M 3 349 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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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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