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1 hour ago, conehead said:

Well, yeah, I’m a boomer, so I’ve been trained all my life that debt is bad, savings is good. I think it’s a thing with my generation.

Ok Boomer........... ;)

I'm of a similar thinking but I can't say I haven't done well in my career timing.

I don't know where you live but I wouldn't want to be a millennial trying save up to buy a house. Aviation wages have definitely not kept up with the cost of living in my relatively affordable city.

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Well I don’t know whether to laugh, cry or puke! This man and his government are so disconnected from reality, it’s beyond words.

What troubles me with this government is I think they'd happily let AC, WJ and everyone else die so they can take green credit for it. I've never been so nauseated in my whole life with these cro

emergency crews were forced to respond.... Isn't that kinda their job?

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Air Canada to suspend flights between Toronto and Charlottetown in new year

From CBC News – link to source story and VIDEO

After Jan. 11, only flights remaining will be between Charlottetown and Montreal

Shane Ross · CBC News · Posted: Dec 08, 2020

charlottetown-airport-from-an-airplane-w Air Canada currently has five flights a week between Charlottetown and Toronto. (John Robertson/CBC)

Air Canada is suspending its flights between Charlottetown and Toronto in the new year, but is adding flights between Charlottetown and Montreal.

Doug Newson, CEO of the Charlottetown Airport Authority, said that means there will still be seven Air Canada flights a week at the airport, but they will all be through Montreal with a 50-seat jet.

The changes take effective Jan. 11 until at least Feb. 10, Newson said.

Charlottetown currently has five flights to Toronto and two to Montreal each week. Newson said more flights could be added temporarily leading up to Christmas as demand increases.

That demand is expected to decrease in January, so he said he’s not “totally surprised” Air Canada decided to suspend service to Toronto.

CLIP_PRETAPE_NEWSON,xcode_mix,109_frame_

Charlottetown Airport CEO on Air Canada dropping Toronto flight in the new year

“It is significant. I won’t pretend that we’re not disappointed,” he said.

“In normal times, and we’re a long way from normal right now, Toronto would be our most popular route so from that standpoint it’s quite disappointing.”

Newson said most people travelling by air are essential or rotational workers who will still be able to get to their destination through Montreal.

On Nov. 2, Westjet suspended all its flights in and out of Charlottetown. Newson said he remains confident the airport will survive the pandemic.

airport.jpg There has been little activity at the Charlottetown airport during the COVID-19 pandemic. (CBC)

“The discussions that I’ve had with the carriers, both with Air Canada, Westjet and even some of the carriers that had planned to come here this summer, is that they are very optimistic about Prince Edward Island and they do want to come back and they do want to add service and we’re in discussions with airlines about next summer right now.”

In a statement to CBC, Air Canada said it will also be suspending all flights until further notice in Sydney, N.S., and Saint John, as well as service between Halifax and Deer Lake, Halifax and Ottawa, and Fredericton and Toronto.

“This decision was not taken lightly and we regret the impact on our customers and community partners, but it is increasingly difficult to continue to operate in this challenging environment, without specific financial support from government, with whom [we] continue to wait for negotiations to start. Air Canada is still carrying less than eight per cent of its normal passenger volumes due to factors beyond our control and with no horizon for recovery,” the statement said.

With files from Louise Martin

 

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Air Canada to cut more routes in Atlantic provinces amid rising COVID-19 cases

From BNN Bloomberg – link to source story and VIDEO

The Canadian Press – 8 December 2020

air_canada_logo.jpg?w=1024

Air Canada will be cutting more routes in Atlantic Canada starting in the new year because of a second wave of COVID-19 infections.

Effective Jan. 11, the airline says it will be suspending until further notice all flights in Sydney, N.S., and Saint John, N.B., along with temporarily halting routes in Deer Lake, N.L., Charlottetown, Fredericton and Halifax.

“This decision was not taken lightly, and we regret the impact on our customers and community partners, but it is increasingly difficult to continue to operate in this challenging environment, without specific financial support from government, with whom 1/8 we 3/8 continue to wait for negotiations to start,” said Peter Fitzpatrick, an Air Canada spokesman.

The move comes after the country’s largest airline announced in June the indefinite suspensions of 11 routes in Atlantic Canada and the closure of stations in Bathurst, N.B., and Wabush, N.L.

Fitzpatrick said the most recent route cuts in Atlantic Canada represent a small subset of the 95 planned suspensions it announced along with its third-quarter earnings results in November.

In October, WestJet Airlines said it was suspending 80 per cent of its Atlantic Canada capacity.

Airlines have been cutting service as passenger demand has dwindled, prompting Air Canada to convert several planes to carry freight. The airline industry has been calling for federal support for months.

The federal government last week announced support for sectors that have been hit hard by the COVID-19 pandemic, including airports and hotels, but didn’t provide specific aid to airlines.

Daniel-Robert Gooch, president of the Canadian Airports Council, said the lack of a targeted response from the federal government contributed to the cuts by Air Canada.

“This development was practically inevitable given the continued provincial restrictions on air travel in Atlantic Canada, the reluctance to consider COVID-19 testing programs to improve safety and mitigate the need for such long quarantines and the lack of federal support for our air carrier partners,” he said.

Derrick Stanford, president of the Atlantic Canada Airports Association and CEO of Saint John Airport, said this third major round of cuts in the last six months is whittling down service to an unsustainable level.

Other airports across the country have made drastic cuts to their operating expenses as the lack of revenue from fees forces them to reduce costs.

“Our industry cannot survive and operate in these conditions, and we are seeing the worst-case scenario playing out here today,” Stanford said in a news release.

“This will have a huge impact on our region’s economy, on the ability of families to reconnect, on the movement of essential workers, and on airport employees and businesses.”

 

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Got two emails from AC today......travel voucher, that never expires, for the exact fares I spent for YLW-YYZ back in April and then rebooked October and cancelled again

Next email came with PIN code to activate when booking another flight using the voucher.

Maybe next Fall I'll head  West, or at least try to 🙄

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1 hour ago, Kip Powick said:

Got two emails from AC today......travel voucher, that never expires, for the exact fares I spent for YLW-YYZ back in April and then rebooked October and cancelled again

Next email came with PIN code to activate when booking another flight using the voucher.

 

Ask them if they'll help with your expenses.  When they ask - tell em you bought your own plane

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Air Canada Becomes First Canadian Airline to Offer Optional Biometric Boarding for Flights Departing the US to Canada

air_canada_logo.jpg?w=1024
  • Streamlines gate experience by automating identification verification process
  • Follows successful pilot undertaken at San Francisco International Airport
  • Future expansion to other US airports planned

MONTREAL, Dec. 09, 2020 /CNW Telbec/ – Air Canada said today it is the first Canadian airline to offer its customers the safety and convenience of a new boarding option utilizing facial biometrics.  The technology is now available for customers departing San Francisco International Airport (SFO) with plans to progressively roll it out for customers at other US airports where the airline operates.  

“Air Canada has introduced numerous touchless processes throughout the customer journey, and we are pleased to now offer an optional, innovative biometric boarding choice for customers departing SFO that is seamless, time-saving and convenient while reducing contact and processing time,” said Andrew Yiu, Vice President, Product at Air Canada.  “Customers have told us they value streamlined processes and we continue to evaluate and assess additional touchless initiatives to further advance safe and secure travel while enhancing the overall travel experience.”

Biometric boarding enables customers to present themselves at the boarding gate, have their photo taken which is then validated and confirmed to their passport document details and photo which are already captured via the U.S. Customs and Border Protection’s (CBP) Traveler Verification Service. In a matter of seconds, CBP’s biometric facial comparison service will automatically compare the new photo of the traveller to images that the traveller has already provided to the government, such as passport and visa photos.  Overall, the use of facial biometrics provides travellers with a secure, touchless process that streamlines air travel.

“CBP is excited to partner with Air Canada to provide travelers with a secure, touchless process for identity verification as they depart the United States at SFO,” said Diane J. Sabatino, Deputy Executive Assistant Commissioner, Office of Field Operations, U.S. Customs and Border Protection. “Along with CBP’s enhanced Simplified Arrival process upon entry at SFO, we are transforming the air travel journey by expanding the use of facial biometrics through public-private partnerships to further secure and enhance the customer experience.”

Customers who do not wish to utilize biometric boarding may simply advise the gate agent, and they will board as they always have by presenting their boarding pass and passport for manual ID check and boarding processing.

Since the beginning of the year, Air Canada has introduced numerous touchless processes throughout the customer journey, including: TouchFree Bag Check for flights departing Canadian airports, the ability to order food directly in Maple Leaf Lounges from smartphones and tablets, touchless self-entry to the Air Canada Café for when it reopens, and provisioning of all newspapers and magazines in digital format via PressReader, among other initiatives.

Air Canada plans to expand biometric boarding options to other US airports in the near future and is currently exploring options which could be viable at Canadian airports.

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18 hours ago, Malcolm said:

Air Canada to cut more routes in Atlantic provinces amid rising COVID-19 cases

From BNN Bloomberg – link to source story and VIDEO

The Canadian Press – 8 December 2020

air_canada_logo.jpg?w=1024

Air Canada will be cutting more routes in Atlantic Canada starting in the new year because of a second wave of COVID-19 infections.

Effective Jan. 11, the airline says it will be suspending until further notice all flights in Sydney, N.S., and Saint John, N.B., along with temporarily halting routes in Deer Lake, N.L., Charlottetown, Fredericton and Halifax.

“This decision was not taken lightly, and we regret the impact on our customers and community partners, but it is increasingly difficult to continue to operate in this challenging environment, without specific financial support from government, with whom 1/8 we 3/8 continue to wait for negotiations to start,” said Peter Fitzpatrick, an Air Canada spokesman.

The move comes after the country’s largest airline announced in June the indefinite suspensions of 11 routes in Atlantic Canada and the closure of stations in Bathurst, N.B., and Wabush, N.L.

Fitzpatrick said the most recent route cuts in Atlantic Canada represent a small subset of the 95 planned suspensions it announced along with its third-quarter earnings results in November.

In October, WestJet Airlines said it was suspending 80 per cent of its Atlantic Canada capacity.

Airlines have been cutting service as passenger demand has dwindled, prompting Air Canada to convert several planes to carry freight. The airline industry has been calling for federal support for months.

The federal government last week announced support for sectors that have been hit hard by the COVID-19 pandemic, including airports and hotels, but didn’t provide specific aid to airlines.

Daniel-Robert Gooch, president of the Canadian Airports Council, said the lack of a targeted response from the federal government contributed to the cuts by Air Canada.

“This development was practically inevitable given the continued provincial restrictions on air travel in Atlantic Canada, the reluctance to consider COVID-19 testing programs to improve safety and mitigate the need for such long quarantines and the lack of federal support for our air carrier partners,” he said.

Derrick Stanford, president of the Atlantic Canada Airports Association and CEO of Saint John Airport, said this third major round of cuts in the last six months is whittling down service to an unsustainable level.

Other airports across the country have made drastic cuts to their operating expenses as the lack of revenue from fees forces them to reduce costs.

“Our industry cannot survive and operate in these conditions, and we are seeing the worst-case scenario playing out here today,” Stanford said in a news release.

“This will have a huge impact on our region’s economy, on the ability of families to reconnect, on the movement of essential workers, and on airport employees and businesses.”

 

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Just another card played by Calin against the House (Garneau) or is Calin "the House" 

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NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

MONTREAL, Dec. 16, 2020 /CNW Telbec/ - Air Canada (TSX: AC) (the "Company") today announced that it has priced its previously announced overnight marketed public offering of 35,420,000 Class A Variable Voting Shares and/or Class B Voting Shares of the Company ("Shares") at a price to the public of C$24.00 per Share for aggregate gross proceeds of approximately C$850 million (the "Offering").

The Company has granted the underwriters an option to purchase up to an additional 15% of the Shares in the Offering, exercisable in whole or in part at any time until 30 days after closing of the Offering. The Offering is expected to close on or about December 30, 2020, subject to customary closing conditions, including the approval of the Toronto Stock Exchange.

The Company will use the net proceeds from the Offering to supplement the Company's working capital and other general corporate purposes. The net proceeds from the Offering will serve to increase Air Canada's cash position, thereby allowing for additional flexibility both from an operational standpoint and in the implementation of its planned mitigation and recovery measures in response to the COVID-19 pandemic.

The Shares offered in the Offering are being offered by way of a short-form prospectus in all provinces and territories of Canada and may also be offered in the United States to qualified institutional buyers pursuant to Rule 144A of the U.S. Securities Act of 1933 (the "Securities Act").

The Shares offered in the Offering have not been, and will not be, registered under the Securities Act, or any state securities laws and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and the rules promulgated thereunder and applicable state securities laws.

TD Securities Inc., J.P. Morgan Securities Canada Inc., Citigroup Global Markets Canada Inc. and Morgan Stanley Canada Limited are acting as active joint book-running managers for the Offering.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the Shares or any other securities and shall not constitute an offer, solicitation or sale in the United States or in any other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration and qualification under the securities laws of such state or jurisdiction.

An amended and restated preliminary short-form prospectus containing important information relating to the Shares will be filed with securities regulatory authorities in each of the provinces and territories of Canada. The amended and restated preliminary short-form prospectus will be subject to completion or amendment. Copies of the amended and restated preliminary short-form prospectus relating to the Offering, when available, may be obtained from TD Securities Inc., TD Tower, 9th Floor, 66 Wellington Street West, Toronto, Ontario, M5K 1A2 (e-mail: sdconfirms@td.com) or J.P. Morgan Securities Canada Inc., Suite 4500, TD Bank Tower, 66 Wellington Street West, Toronto, ON M5K 1E7 or by telephone: Canada Sales 416-981-9233. A copy of the amended and restated preliminary short-form prospectus, when available, can also be obtained under Air Canada's corporate profile on SEDAR at www.sedar.com. There will not be any sale or any acceptance of an offer to buy the Shares until a receipt for the final short-form prospectus has been issued.

Class B Voting Shares of Air Canada may only be owned and controlled by Canadians. Any Class B Voting Share owned or controlled by a person who is not a Canadian is automatically converted to a Class A Variable Voting Share. Class A Variable Voting Shares may only be owned or controlled by persons who are not Canadians. Therefore, any Class A Variable Voting Share owned and controlled by a person who is a Canadian is automatically converted to a Class B Voting Share. Purchasers of the Shares who are Canadians will receive Class B Voting Shares. Purchasers of the Shares who are not Canadians will receive Class A Variable Voting Shares. The term "Canadian" is defined under subsection 55(1) of the Canada Transportation Act (Canada), as amended, as "(a) a Canadian citizen or a permanent resident as defined in subsection 2(1) of the Immigration and Refugee Protection Act (Canada), (b) a government in Canada or an agent or mandatary of such a government or (c) a corporation or entity that is incorporated or formed under the laws of Canada or a province, that is controlled in fact by Canadians and of which at least 51% of the voting interests are owned and controlled by Canadians and where (i) no more than 25% of the voting interests are owned directly or indirectly by any single non-Canadian, either individually or in affiliation with another person, and (ii) no more than 25% of the voting interests are owned directly or indirectly by one or more non-Canadians authorized to provide an air service in any jurisdiction, either individually or in affiliation with another person".

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release includes "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These statements may involve, but are not limited to, comments relating to guidance, strategies, expectations, planned operations or future actions, the Company's expectations with respect to the form and terms of the Offering and the expected use of proceeds therefrom. Forward-looking statements are identified using terms and phrases such as "preliminary", "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", "will", "would", and similar terms and phrases, including references to assumptions. Forward-looking statements, by their nature, are based on assumptions, including those described herein and are subject to important risks and uncertainties. Forward-looking statements cannot be relied upon due to, among other things, changing external events and general uncertainties of the business. Actual results may differ materially from results indicated in forward-looking statements due to a number of factors, including those discussed below.

Air Canada, along with the rest of the global airline industry, is facing a severe and abrupt drop in traffic and a corresponding decline in revenue and cash flows as a result of the COVID-19 pandemic and the travel restrictions imposed in many countries around the world, and particularly in Canada. The impact of the COVID-19 pandemic began to be felt in traffic and sales figures commencing in early March 2020. These impacts include drastic declines in earnings and cash flow from operations. There is very limited visibility on travel demand given changing government restrictions in place around the world and the severity of the restrictions in Canada; these restrictions and concerns about travel due to the COVID-19 pandemic as well as passenger concerns and expectations about the need for certain precautions, such as physical distancing, are severely inhibiting demand. The COVID-19 pandemic is also having significant economic impacts, including on business and consumer spending, which may in turn significantly impact demand for travel. Air Canada cannot predict the full impact or the timing for when conditions may improve. Air Canada is actively monitoring the situation and will respond as the impact of the COVID-19 pandemic evolves, which will depend on a number of factors including the course of the virus, availability of rapid, effective testing, vaccinations and effective treatments for the virus, government actions, and passenger reaction, as well as timing of a recovery in international and business travel which are important segments of Air Canada's markets, none of which can be predicted with any degree of certainty.

Other factors which may cause results to differ materially from results indicated in forward-looking statements include those factors identified in Air Canada's public disclosure file available at www.sedar.com and, in particular, those identified in section 14 "Risk Factors" of Air Canada's Third Quarter 2020 MD&A and section 20 "Risk Factors" of Air Canada's 2019 MD&A. Readers cannot be assured that the Offering described above will be completed on the terms described above, or at all. The forward-looking statements contained in this news release represent Air Canada's expectations as of the date of this news release (or as of the date they are otherwise stated to be made) and are subject to change after such date. However, Air Canada disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required under applicable securities regulations.

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4 minutes ago, moeman said:

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

MONTREAL, Dec. 16, 2020 /CNW Telbec/ - Air Canada (TSX: AC) (the "Company") today announced that it has priced its previously announced overnight marketed...................................................)

I do not know the legality of the first line...but here it is on a world- wide public forum ????...anyone ???

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26 minutes ago, dagger said:

Now this is a shot at the feds. Raising $850 million suggests they might tell Ottawa to shove its "rescue package". It certainly reduces Ottawa's leverage and might complicate matters for the other airlines. I don't know, but it is a show of force.

Will the institutionalized investors be willing to pay 24$ for an airline that’s losing 14 million/day? Or has it already happened since the stock dove to 24 this morning.

edit $850 million would be aprox 35 million shares,  5m traded so far today

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2 hours ago, Kip Powick said:

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Just standard boilerplate verbiage associated with announcement of a stock issue that has not been filed with US Securities Commission. Basically saying we are not soliciting Americans to purchase this stock.

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2 hours ago, thinair said:

Will the institutionalized investors be willing to pay 24$ for an airline that’s losing 14 million/day? Or has it already happened since the stock dove to 24 this morning.

edit $850 million would be aprox 35 million shares,  5m traded so far today

The stock price did not ‘dive’.

The market was simply responding to the fact that millions of shares were going to be available at $24.

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3 hours ago, dagger said:

Now this is a shot at the feds. Raising $850 million suggests they might tell Ottawa to shove its "rescue package". It certainly reduces Ottawa's leverage and might complicate matters for the other airlines. I don't know, but it is a show of force.

I'm probably missing something, but I'm not understanding why Ottawa would care whether it has leverage here unless it hoped to look like the hero forcing AC to refund customers for cancelled flights.  I can't imagine Ottawa really wants to bail AC out.  It was a long time ago, but the feds of the day had no compunction about extending all kinds of largesse to Canadian Airlines that other carriers didn't get.  Would it be different today if Porter or an independent Transat was on the ropes?

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2 minutes ago, FA@AC said:

I'm probably missing something, but I'm not understanding why Ottawa would care whether it has leverage here unless it hoped to look like the hero forcing AC to refund customers for cancelled flights.  I can't imagine Ottawa really wants to bail AC out.  It was a long time ago, but the feds of the day had no compunction about extending all kinds of largesse to Canadian Airlines that other carriers didn't get.  Would it be different today if Porter or an independent Transat was on the ropes?

Like I wrote above, they have a shopping list of what they want the airlines to do, but have to offer it to all. If Air Canada declines, because it can, no one else is going to support Canadian aerospace (who else is buying Canadian-made aircraft, certainly not Porter or Encore in this environment?), and no one is going to re-start suspended routes. Without some quid pro quos, the government will have to limit itself to LEEFF-type funding, a program which basically charges market interest rates, which isn't very attractive. Or the government is going to have to be more forthcoming with meaningful aid and maybe forgo one or two of its 'wins'.  

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CR has been emphatic in stating that the fee burden structure imposed on airlines is unreasonable. That was pre-COVID. In the current environment, it is unsustainable. Action in this area is essential if the Feds want to sustain the industry in a form resembling pre-COVID for the many years that it will take to recover.

CR also stated in a recent CPAC interview that proposed government ownership in exchange for loans was “a colossal bad idea”. That should pretty well tell you where AC is willing to go with that condition.

What is happening is a negotiation in public because apparently there is no negotiation going on in private.

’Sunny ways’? Ya, right.

 

 

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2 hours ago, rudder said:

The stock price did not ‘dive’.

The market was simply responding to the fact that millions of shares were going to be available at $24.

You’re right, a dive would be back down around the $14 range. However 10% in a few hours is significant I would think.

I hope it goes back up again but I’m pretty sure it won’t be helped by Mr sunny ways.

Has CR been paid out yet? If not that should help raise the price. 

It was always a funny coincidence that more often than not in regards to the WJA stock. That it managed to climb to its highs just before CB was due to cash out a large amount.

Im certainly no stock guru just another battered airline employee. Lol

 

 

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AC finished the day yesterday at 23.69.  considering all the available shares at $24 thats not bad.

10% drop from open to close with a market flooded with shares 10% lower than the trading price is pretty much an expected result.

 

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