Air Canada could navigate a recession better than 10 years ago: CFO
Sep 26, 2019, 1:20 pm
#1
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Air Canada could navigate a recession better than 10 years ago: CFO
https://www.bnnbloomberg.ca/air-cana...-cfo-1.1322479
MONTREAL -- Air Canada's second in command says the company is better prepared for a potential recession than it was for the financial crisis a decade ago, when the company was plunged into four consecutive years of losses.
Chief financial officer Mike Rousseau says he is "highly confident" that a recession "of equal severity" would weigh far more lightly on the balance sheet of the country's biggest airline.
MONTREAL -- Air Canada's second in command says the company is better prepared for a potential recession than it was for the financial crisis a decade ago, when the company was plunged into four consecutive years of losses.
Chief financial officer Mike Rousseau says he is "highly confident" that a recession "of equal severity" would weigh far more lightly on the balance sheet of the country's biggest airline.
Sep 26, 2019, 4:35 pm
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Doubtful. They've expanded so much and Canada itself will probably be hit much harder the next time around. Last recession the Canadian dollar was worth a lot more. Last recession Canada wasn't in so many diplomatic rifts with huge trading nations.
They've expanded at a rate similar to that what you see with state-owned carriers minus the taxpayer backstop.
They've expanded at a rate similar to that what you see with state-owned carriers minus the taxpayer backstop.
Sep 26, 2019, 5:18 pm
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Well, not having an enormous debt load (recently off a bankruptcy), heavy on owned aircraft (free to sell/lease double back accounting trick) , and having a FF program (to sell off for quick cash)... Yeah.
As airlines go, AC is up there.
As airlines go, AC is up there.
Sep 26, 2019, 9:07 pm
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I thought that AC has all of its 787s on lease? Or maybe just some. IIRC After purchase they sold them to a leasing company. What about the max fleet?
Sep 27, 2019, 8:54 am
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