Home » Investing » $10,000 Invested in Air Canada (TSX:AC) at the Start of 2020 Is Worth This Much Today
$10,000 Invested in Air Canada (TSX:AC) at the Start of 2020 Is Worth This Much Today
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COVID-19’s impact on the aviation industry is unprecedented. Hopefully, the coronavirus vaccines could save airline companies that are on the verge of collapse. For Canada’s largest domestic and international airline, a vaccine offers hope for a comeback.
Air Canada(TSX:AC) shares are climbing lately, but the year-to-date loss is still a high 46%. Had you invested $10,000 at the start of 2020, your money would be worth $5,232 today, or a loss of $4,768. The company’s losses after three quarters are over $3.35 billion. One positive development in the most recent quarter is the narrowing daily cash burn.
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HALIFAX Cutbacks to Atlantic Canada’s airline industry are expected to have devastating effects on the region’s airports as fewer travellers fly out east, and interprovincial workers could see the brunt of those cuts this holiday season. Effective Jan. 11, Air Canada is suspending all flights to Sydney, N.S., and Saint John, N.B., until further notice. Airport CEO Mike Mackinnon said Air Canada’s decision will be a blow to Cape Breton’s J.A. Douglas McCurdy Sydney Airport. Atlantic airports are already struggling to make ends meet, and the move has only exacerbated the problem. Massive, catastrophe. Those are the words. The airport only makes, really, revenue from commercial passenger traffic, Mackinnon told CTV News.