05:53:38 EDT Sat 27 Apr 2024
Enter Symbol
or Name
USA
CA



Air Canada
Symbol AC
Shares Issued 358,469,286
Close 2023-11-27 C$ 17.60
Market Cap C$ 6,309,059,434
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Globe/CP say TD analyst sees too much airline capacity

2023-11-27 07:41 ET - In the News

Also In the News (C-ONEX) Onex Corp

The Financial Post reports in its Monday edition that demand for air travel may be levelling off after climbing close to prepandemic levels over the summer, as the rising cost of living weighs on Canadians' wallets. A Canadian Press dispatch to the Post says that airline ticket sales dropped from September to October, when they typically rise ahead of the holiday season. Sales at U.S. travel agencies in October fell 5 per cent below levels from September and 2 per cent from a year earlier, according to data from Airlines Reporting, which processes tickets for agencies. However, Air Canada and WestJet are increasing capacity slowly relative to some of their domestic competitors, and demand from high-margin business travellers remains well below that of prepandemic days. There is also "too much capacity" in some markets, including sun destinations and major routes between big cities, said TD Cowen analyst Helane Becker. She said bookings are up for American Thanksgiving, Christmas and new year's, but worse than expected for off-peak periods as travel plans adapt to strained purse strings. Experts cited slimmer disposable income amid increased costs on everything from rent and mortgages to food, gas and student loans.

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