Air Canada Drops After Cutting Summer Flights as Delays Drag
- Canada’s largest airline slumped 6% after announcing measures
- The company will cut 154 flights per day in response to delays
Air Canada planes on the tarmac at Toronto Pearson International Airport.
Photographer: James MacDonald/BloombergThis article is for subscribers only.
Air Canada shares dropped after the company said that it will make “meaningful” reductions to its summer flight schedule in order to quickly bring passenger volumes down to a manageable level.
Canada’s largest air carrier fell 6% on Thursday, recovering slightly from an 8.8% tumble in intraday trading -- its biggest drop since early March -- as investors balked at its post-pandemic operational disruptions. Air Canada said it plans to cut 154 flights per day, on average, for the next two months; the carrier operates about 1,000 daily flights.