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Air Canada discontinues service on 30 domestic regional routes » 11:11
06/30/20
06/30
11:11
06/30/20
11:11
ACDVF

Air Canada

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Air Canada said that it…

Air Canada said that it is indefinitely suspending service on 30 domestic regional routes and closing eight stations at regional airports in Canada. These structural changes to Air Canada's domestic regional network are being made as a result of continuing weak demand for both business and leisure travel due to COVID-19 and provincial and federal government-imposed travel restrictions and border closures, which are diminishing prospects for a near-to-mid-term recovery. As the company has previously reported, Air Canada expects the industry's recovery will take a minimum of three years. As a consequence, other changes to its network and schedule, as well as further service suspensions, will be considered over the coming weeks as the airline takes steps to decisively reduce its overall cost structure and cash burn rate. As a result of COVID-19, Air Canada reported a net loss of $1.05B in the first quarter of 2020, including a net cash-burn in March of $688M. The carrier has undertaken a range of structural changes including significant cost savings and liquidity measures, of which today's announced service suspensions form part. Other measures include: A workforce reduction of approximately 20,000 employees, representing more than 50 per cent of its staff, achieved through layoffs, severances, early retirements and special leaves; A company-wide Cost Reduction and Capital Deferral Program, that has to date identified around $1.1 billion in savings; A reduction of its system-wide capacity by approximately 85 per cent in the second quarter compared to last year's second quarter and an expected third quarter capacity reduction of at least 75% from the third quarter of 2019; The permanent removal of 79 aircraft from its mainline and Rouge fleets; And raising approximatively $5.5 billion in liquidity since March 13, 2020, through a series of debt, aircraft and equity financings. Further initiatives are being considered.

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ACDVF Air Canada
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ACDVF Air Canada
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06/24/20 TD Securities
Air Canada price target raised to C$27 from C$26 at TD Securities
06/12/20 National Bank
Air Canada price target raised to C$22 from C$19 at National Bank
06/03/20 RBC Capital
Air Canada price target lowered to C$23 from C$25 at RBC Capital
06/03/20 Scotiabank
Air Canada price target raised to C$26 from C$25 at Scotiabank
ACDVF Air Canada
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ACDVF Air Canada
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Over a week ago
Recommendations
Air Canada price target raised to C$27 from C$26 at TD Securities » 11:26
06/24/20
06/24
11:26
06/24/20
11:26
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TD Securities analyst Tim…

TD Securities analyst Tim James raised the firm's price target on Air Canada to C$27 from C$26 and keeps a Buy rating on the shares.

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ACDVF Air Canada
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ACDVF Air Canada
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06/12/20 National Bank
Air Canada price target raised to C$22 from C$19 at National Bank
06/03/20 RBC Capital
Air Canada price target lowered to C$23 from C$25 at RBC Capital
06/03/20 Scotiabank
Air Canada price target raised to C$26 from C$25 at Scotiabank
06/03/20 National Bank
Air Canada price target lowered to C$19 from C$20 at National Bank
ACDVF Air Canada
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ACDVF Air Canada
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Recommendations
Air Canada price target raised to C$22 from C$19 at National Bank » 11:22
06/12/20
06/12
11:22
06/12/20
11:22
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Air Canada

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National Bank analyst…

National Bank analyst Cameron Doerksen raised the firm's price target on Air Canada to C$22 from C$19 and keeps a Sector Perform rating on the shares.

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ACDVF Air Canada
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ACDVF Air Canada
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06/03/20 RBC Capital
Air Canada price target lowered to C$23 from C$25 at RBC Capital
06/03/20 Scotiabank
Air Canada price target raised to C$26 from C$25 at Scotiabank
06/03/20 National Bank
Air Canada price target lowered to C$19 from C$20 at National Bank
06/03/20 TD Securities
Air Canada price target lowered to C$26 from C$28 at TD Securities
ACDVF Air Canada
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ACDVF Air Canada
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Recommendations
Air Canada price target lowered to C$23 from C$25 at RBC Capital » 12:00
06/03/20
06/03
12:00
06/03/20
12:00
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RBC Capital analyst…

RBC Capital analyst Walter Spracklin lowered the firm's price target on Air Canada to C$23 from C$25 and keeps an Outperform rating on the shares, following the company's recent equity and debt raise.

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ACDVF Air Canada
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ACDVF Air Canada
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06/03/20 Scotiabank
Air Canada price target raised to C$26 from C$25 at Scotiabank
06/03/20 National Bank
Air Canada price target lowered to C$19 from C$20 at National Bank
06/03/20 TD Securities
Air Canada price target lowered to C$26 from C$28 at TD Securities
06/01/20 Canaccord
Air Canada price target lowered to C$25 from C$30 at Canaccord
ACDVF Air Canada
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ACDVF Air Canada
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Recommendations
Air Canada price target raised to C$26 from C$25 at Scotiabank » 10:34
06/03/20
06/03
10:34
06/03/20
10:34
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Scotiabank analyst Konark…

Scotiabank analyst Konark Gupta raised the firm's price target on Air Canada to C$26 from C$25 and keeps an Outperform rating on the shares. The analyst said that "additional liquidity ensures a smooth recovery" following the company's equity and convertible debenture offerings.

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ACDVF Air Canada
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ACDVF Air Canada
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06/03/20 National Bank
Air Canada price target lowered to C$19 from C$20 at National Bank
06/03/20 TD Securities
Air Canada price target lowered to C$26 from C$28 at TD Securities
06/01/20 Canaccord
Air Canada price target lowered to C$25 from C$30 at Canaccord
05/06/20 Scotiabank
Air Canada price target lowered to C$25 from C$30 at Scotiabank
ACDVF Air Canada
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ACDVF Air Canada
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Recommendations
Air Canada price target lowered to C$19 from C$20 at National Bank » 10:32
06/03/20
06/03
10:32
06/03/20
10:32
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Air Canada

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National Bank analyst…

National Bank analyst Cameron Doerksen lowered the firm's price target on Air Canada to C$19 from C$20 and keeps a Sector Perform rating on the shares.

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ACDVF Air Canada
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ACDVF Air Canada
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06/03/20 TD Securities
Air Canada price target lowered to C$26 from C$28 at TD Securities
06/01/20 Canaccord
Air Canada price target lowered to C$25 from C$30 at Canaccord
05/06/20 Scotiabank
Air Canada price target lowered to C$25 from C$30 at Scotiabank
05/05/20 RBC Capital
Air Canada price target lowered to C$25 from C$28 at RBC Capital
ACDVF Air Canada
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ACDVF Air Canada
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Recommendations
Air Canada price target lowered to C$26 from C$28 at TD Securities » 10:29
06/03/20
06/03
10:29
06/03/20
10:29
ACDVF

Air Canada

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TD Securities analyst Tim…

TD Securities analyst Tim James lowered the firm's price target on Air Canada to C$26 from C$28 and keeps a Buy rating on the shares following Air Canada's equity and convertible debenture issuance announced on May 26..

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ACDVF Air Canada
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ACDVF Air Canada
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06/01/20 Canaccord
Air Canada price target lowered to C$25 from C$30 at Canaccord
05/06/20 Scotiabank
Air Canada price target lowered to C$25 from C$30 at Scotiabank
05/05/20 RBC Capital
Air Canada price target lowered to C$25 from C$28 at RBC Capital
04/17/20 National Bank
Air Canada downgraded to Sector Perform from Outperform at National Bank
ACDVF Air Canada
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ACDVF Air Canada
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Over a month ago
Recommendations
Air Canada price target lowered to C$25 from C$30 at Canaccord » 14:29
06/01/20
06/01
14:29
06/01/20
14:29
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Canaccord analyst Doug…

Canaccord analyst Doug Taylor lowered the firm's price target on Air Canada to C$25 from C$30 and keeps a Buy rating on the shares following the company completing a "substantial" financing.

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ACDVF Air Canada
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ACDVF Air Canada
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05/06/20 Scotiabank
Air Canada price target lowered to C$25 from C$30 at Scotiabank
05/05/20 RBC Capital
Air Canada price target lowered to C$25 from C$28 at RBC Capital
04/17/20 National Bank
Air Canada downgraded to Sector Perform from Outperform at National Bank
04/07/20 CIBC
Air Canada price target lowered to C$29 from C$37 at CIBC
ACDVF Air Canada
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ACDVF Air Canada
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Recommendations
Air Canada price target lowered to C$25 from C$30 at Scotiabank » 13:33
05/06/20
05/06
13:33
05/06/20
13:33
ACDVF

Air Canada

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Scotiabank analyst Konark…

Scotiabank analyst Konark Gupta lowered the firm's price target on Air Canada to C$25 from C$30 and keeps an Outperform rating on the shares. The analyst sees the company's cash burn peaking in Q2.

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ACDVF Air Canada
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05/05/20 RBC Capital
Air Canada price target lowered to C$25 from C$28 at RBC Capital
04/17/20 National Bank
Air Canada downgraded to Sector Perform from Outperform at National Bank
04/07/20 CIBC
Air Canada price target lowered to C$29 from C$37 at CIBC
03/31/20 RBC Capital
Air Canada price target lowered to C$28 from C$31 at RBC Capital
Recommendations
Air Canada price target lowered to C$25 from C$28 at RBC Capital » 12:30
05/05/20
05/05
12:30
05/05/20
12:30
ACDVF

Air Canada

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RBC Capital analyst…

RBC Capital analyst Walter Spracklin lowered the firm's price target on Air Canada to C$25 from C$28 and keeps an Outperform rating on the shares.

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ACDVF Air Canada
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+ (+0.00%)

04/17/20 National Bank
Air Canada downgraded to Sector Perform from Outperform at National Bank
04/07/20 CIBC
Air Canada price target lowered to C$29 from C$37 at CIBC
03/31/20 RBC Capital
Air Canada price target lowered to C$28 from C$31 at RBC Capital
03/11/20 RBC Capital
Air Canada price target lowered to C$46 from C$58 at RBC Capital

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