Finance

Air Canada Stock

Air Canada

The dreaded COVID-19 pandemic has adversely affected the economy across all sectors. However, sectors such as aviation were more adversely impacted because of all the travel bans across the globe. One of the world’s most famous airlines, Canada’s very own Air Canada (TSX: AC) witnessed a severe decline in its stock during the pandemic and almost reached bankruptcy. Until the WHO announced COVID-19 as a global pandemic, Air Canada had reported 27 straight profitable quarters. Since the lockdowns began, the airline firm had four quarters of severe losses. In the first quarter of 2021 alone, Air Canada lost $1.3 billion. During the dreadful quarter, Air Canada burned through $14 million of cash every day. Even though the Canadian Government provided a $5.9 billion bailout package, Air Canada’s stock continued to be in the doldrums. At the time of writing this post, Air Canada stock is trading for $26.95. Let’s find out more. Continue reading to know more about Air Canada Stock

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