I wonder if AC is being a bit more pragmatic than some of their peers about how realistic some of the quoted delivery timelines are from the manufacturers. They came out and said they will have fewer aircraft in 2026 than they had anticipated. This was all delivery delays.

Carving out 4 frames from the overall widebody fleet is a pretty small slice for it to be a big strategic move aligning with capacity forecasting in the long term. I wonder if this was cutting back the last 4 frames being delivered because their confidence on the timeline is so low they figure they'll be in an unknown market environment by the time they show up.

AC has been pretty good over the past number of years with being very opportunistic about aircraft acquisition in both the primary and secondary markets. I can't say this with confidence because I don't know any of the numbers involved but I strongly suspect they made some good deals in that period. Maybe a small scale back in commitments keeps that door open?