Air Canada 2020 Second Quarter Results
Jul 31, 2020, 9:29 am
#16
Suspended
Join Date: Sep 2019
Programs: UA 1k AC 50k BA gold
Posts: 121
Ugly quarter. Cash burn continues to be high. The ongoing quarantine requirements on return to Canada have been really damaging. They have made provisions to write down the leases on withdrawn aircraft (including the Rouge 67's). There remains good liquidity but AC added considerably to its debt. The remainder of the year is going to be a considerable challenge.
Jul 31, 2020, 9:43 am
#17
Join Date: Dec 2005
Location: YWG
Programs: AC SE100, SPG Plat, Visa Inf Priv
Posts: 509
Very sad news. They have withdrawn their fleet projections. Available v active fleet is not in the current report or even projected. At least cargo is up. They have already reduced their outlook for Q3, 75 to 80% reduction from 19Q3. If $15-17 M / day cash burn continues they have about 5-6 quarters of reserves to float them. That may be just enough given the vaccine progress.
Jul 31, 2020, 9:45 am
#18
A FlyerTalk Posting Legend
Join Date: May 2002
Location: YEG
Programs: HH Silver
Posts: 56,443
https://toronto.citynews.ca/2020/07/...e-89-per-cent/
Air Canada loses $1.75B in second quarter as revenues plunge
https://ca.reuters.com/article/topNews/idCAKCN24W1HB
(Reuters) - Air Canada said it would weigh possible order cancellations of aircraft from Boeing and Airbus , after the carrier reported a second-quarter loss on Friday as coronavirus-driven travel restrictions hit demand.
Air Canada loses $1.75B in second quarter as revenues plunge
https://ca.reuters.com/article/topNews/idCAKCN24W1HB
(Reuters) - Air Canada said it would weigh possible order cancellations of aircraft from Boeing and Airbus , after the carrier reported a second-quarter loss on Friday as coronavirus-driven travel restrictions hit demand.
Jul 31, 2020, 10:27 am
#19
FlyerTalk Evangelist
Join Date: Jun 2003
Location: YYC
Posts: 23,797
Jut when they received their eighth and it's probably the type currently best suited to their needs. :-)
Jul 31, 2020, 11:38 am
#20
Original Poster
Join Date: Nov 2018
Location: Vancouver
Programs: AC SE100K 1MM, FB Platinum, Bonvoy Platinum Elite, IHG Gold Elite, Hilton Gold
Posts: 1,602
It absolutely is the best type for their needs - full efficient, can fly quite far, and has the right amount of seats for many routes. There is little doubt AC is looking for further concessions from government and will likely seek some from both Boeing and Airbus. The industry is really in brutal shape. Without a vaccine by the end of this year, things will likely continue to spiral down.