03:09:40 EDT Sat 20 Apr 2024
Enter Symbol
or Name
USA
CA



Air Canada
Symbol AC
Shares Issued 263,816,578
Close 2020-01-28 C$ 45.10
Market Cap C$ 11,898,127,668
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Globe says Air Canada scales back flights to China

2020-01-29 07:45 ET - In the News

The Globe and Mail reports in its Wednesday edition that Canadian companies are banning travel to China and instructing staff to work from home if they have recently gone there as the deadly coronavirus that began in Wuhan spreads around the world. The Globe's Brent Jang and Joe Costaldo write that the novel coronavirus had killed at least 100 people and infected thousands of others as of Tuesday, with more than 4,600 confirmed cases in China. Those numbers have put a chill on companies that do business in China and cast uncertainty on future plans. Air Canada has scaled back its schedule to China. "In response to the coronavirus situation, we are cancelling select flights to China to better match capacity with expected demand," Canada's largest airline said in a statement. "Air Canada currently operates 33 flights a week to China and the resulting capacity reduction is relatively small. Those customers who are affected will be notified." The S&P/TSX Composite Index rose 0.3 per cent on Tuesday after dropping 0.7 per cent on Monday. Air Canada shares gained 0.8 per cent on Tuesday after a 7.6-per-cent decline on Monday amid investors' jitters over the impact of the coronavirus on the carrier's global network.

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