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On 7/5/2020 at 7:28 PM, Fido said:

Digging back into the memory banks for the right words:

The trip cost of a -300 is 10% higher than a -100.

Now you can see why it is so hard to teach people the basics when the teacher stumbles too.

After using the same slide in presentations for a couple of years a young student questioned it and again I had to admit that I was in error.

I fully agree on this number but when it skinny already like YYB and YGK it may not be worth it. Retiring the -100 also means there's less classic air frames available and the -300's are by no means spring chickens as well with the 301's being retired at 80,000 hrs and not getting the 120,000 hr extension

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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

We must remember.  We have never developed a vaccine for a cold virus.  If we do it now it will be a first.  Even if we do manage a vaccine it won’t be a cure all like Measles.  Cold virus mutate fast

In 2018 VIA Rail received almost $400,000,000 in a Federal Government subsidy and still lost another $272,000,000..... Their customers pay no Station Improvement Fees, Rail Canada Navigation surc

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Air Creebec stepping in to fill the AC void from cancelled routes. 

https://canadianaviationnews.wordpress.com/2020/07/08/air-creebec-hopes-to-fill-the-gap-in-regional-routes-left-by-air-canada/

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“I’ve already heard of all kinds of stories,” added Happyjack. “With flights cancelled, and all kinds of excuses for bad service, Air Canada no longer has a very good reputation in the region. I think we can take over.”

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Happyjack hopes to be able to offer a service equivalent to that of Air Canada, at a price roughly equal or lower.

Wait, what?  So you want to provide the "bad service" AC provides?

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Air Canada Proposes Science-Based Approach to Easing Quarantine Act Restrictions Français


NEWS PROVIDED BY

Air Canada 

Jul 15, 2020, 15:54 ET

 


  • Proposed measures endorsed by medical professionals globally and the International Air Transport Association
  • Mirror those adopted by the European Union, the United Kingdom and other worldwide jurisdictions

MONTREAL, July 15, 2020 /CNW Telbec/ - Air Canada's Chief Medical Officer today issued a letter urging the Canadian government to consider a science-based approach to easing the Quarantine Act restrictions, which have been essentially unchanged since March, to strike a better balance for travellers and for the Canadian economy without adversely impacting public health.

Air Canada is not proposing relaxing the U.S. border restrictions at this time - only to replace the quarantine requirements for those countries with a low COVID-19 risk from a public health perspective with more proportionate, evidence-based measures and experiences from other countries.

Air Canada notes that other G20 countries have implemented practical, evidence-based approaches to travel by minimizing the risk of COVID-19 exposure through a range of measures endorsed by medical professionals worldwide including:

  • Determination of safe corridors or travel between approved jurisdictions with fewer cases on the basis of low risk from a public health perspective (an approach adopted in the UK, France, Germany, Switzerland, Spain, Portugal among others)
  • Requirement for a pre-departure, medically certified negative COVID-19 test in order to enter the country (Caribbean islands)
  • Waiver of quarantine requirements following a negative test on arrival (Iceland, Austria, Luxembourg)
  • Mandatory testing on arrival (South Korea, Hong Kong, Macao, United Arab Emirates)

A full copy of Air Canada's letter signed by its Chief Medical Officer and providing a robust science-based approach for easing the 14-day quarantine is here.

Air Canada has been at the forefront of the airline industry in responding to COVID-19, including being among the first carriers globally to require customer face coverings onboard and the first airline in the Americas to take customers' temperatures prior to boarding. In May it introduced a comprehensive program, Air Canada CleanCare+, to apply industry leading biosafety measures at each stage of the journey.

Air Canada has recently undertaken several medical collaborations to further advance biosafety across its business, including with Cleveland Clinic Canada for medical advisory services, Ottawa-based Spartan Bioscience to explore portable COVID-19 testing technology and, since 2019, with Toronto-based BlueDot for real-time infectious disease global monitoring.

https://www.aircanada.com/ca/en/aco/home/about/media/media-features/science-based-alternative.html

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The availability of pre-departure COVID tests would be the first hurdle to the AC proposal. Here in BC, a person still needs one or more symptoms to get a test.

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24 minutes ago, J.O. said:

The availability of pre-departure COVID tests would be the first hurdle to the AC proposal. Here in BC, a person still needs one or more symptoms to get a test.

Interesting... here in the Center of the Universe, anyone can get one..

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35 minutes ago, J.O. said:

The availability of pre-departure COVID tests would be the first hurdle to the AC proposal. Here in BC, a person still needs one or more symptoms to get a test.

Testing is open to anyone in Alberta but:

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Any person who wants to be tested can now be tested, even if they don't have symptoms.

The following groups will continue to receive priority for testing:

  • any person exhibiting any symptom of COVID-19
  • all close contacts of confirmed COVID-19 cases
  • all workers and/or residents at specific outbreak sites
  • all workers and residents at long-term care and level 4 supportive living facilities
  • all patients admitted to continuing care or transferred between continuing care and hospital settings

 

 

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15 hours ago, conehead said:

Seems reasonable...

I agree but if you read the comments related to the story in the various news media outlets you'll be shocked (then again maybe not).   They're overwhelmingly negative. 

Whatever air of authority or credibility was intended by letting the Chief Medical Officer issue the letter instead of an executive, it seems to have been for naught.  I think a 2 week $1 seat sale to some safer vacation destinations (eg Bermuda) would have more influence on public pressure.

Are you COVID FREE* and need a vacation?  COVID FREE Bermuda is just 3 hrs away.  $1.00 Return Airfare starting August 01

*Canada requires 14 day quarantine upon return even from COVID free countries

 

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The gov't really seems to not want to listen to AC whatsoever, not even a care.  They view them as an inconvenience rather than an economic driver.  Maybe, a rebrand is in order.  Something along the lines of "WE Bombardier SNC Airlines".  A mouthful, but golly will it ever get the liberals attention and the cash flowing quickly!

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Air Canada to resume flights to Taiwan in March 2021

News from Taiwan News – link to story

Airline will operate five weekly flights after resumption of service

(Air Canada photo) (Air Canada photo)

TAIPEI (Taiwan News) — Air Canada announced on Sunday (July 17) that it will resume operating the Taipei-Vancouver flight route from March 28 next year, offering early-bird discounts.

Due to the COVID-19 pandemic, Air Canada suspended flights to Taiwan on March 29, and the airline’s plan to resume operation of the route had been moved back from June to October, then delayed until March of next year, per CNA. Air Canada announced that it will operate five flights a week, as in the past, after the resumption of service.

The airline is also offering early-bird discounts to passengers who book direct flights now, including NT$13,714 (US$457) for a Taipei-Vancouver economy class round-trip ticket.

To better meet the needs of passengers in the post-pandemic period, those who have ordered Air Canada tickets are entitled to make a variety of changes free of charge, including changing flights once, changing passenger names once, and postponing travel for a maximum of 24 months.

Before the Taipei-Vancouver route resumes, passengers can still fly to Canada and the United States by transferring in Tokyo, Seoul, or Hong Kong, according to the airline.

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45 minutes ago, Fido said:

They are going to try TPE again?

Does this come up every time they get a new person running marketing?

AC was doing TPE and doing very well with it recently, right up until Covid

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Air Canada Implements New Biosafety Protocols as it Begins Re-opening its Award-Winning Maple Leaf Lounges

  • Maple Leaf Lounge at Toronto Pearson, D gates welcomes eligible customers beginning July 24
  • Maple Leaf Lounges in Montreal, Vancouver planned to re-open by Labour Day

MONTREAL, July 23, 2020 /CNW Telbec/ – Air Canada today announced the gradual re-opening of its Maple Leaf Lounges, featuring new biosafety protocols for the well-being of customers and employees. The Maple Leaf Lounge at Toronto Pearson, D gates re-opens on July 24 to eligible customers travelling on a domestic or international flight, with the Maple Leaf Lounges located in the domestic departure areas at airports in Montreal and Vancouver set to re-open in the coming weeks.

“We are pleased to welcome eligible customers again to one of our Maple Leaf Lounges at our primary Toronto Pearson hub. The Maple Leaf Lounge experience has been completely re-thought with a range of industry-leading biosafety measures in place for the safety of customers and employees alike. We are introducing electrostatic spraying in our Lounges as part of our significantly enhanced cleaning procedures for additional peace of mind, and launching new touchless processes, such as the ability to order pre-packaged food directly to your seat from your smartphone. When the Air Canada Café reopens later this year, customers will also benefit from touchless self-entry, a process which we are looking to implement at other lounges. We will progressively re-open other Maple Leaf Lounges throughout our network starting with Montreal Trudeau Airport and Vancouver International Airport by early fall in time for the expected resumption of more business travel,” said Andrew Yiu, Vice President, Product, at Air Canada.

Air Canada’s Maple Leaf Lounge experience incorporates several multi-layered biosafety measures to enhance health and safety. Highlights include: mandatory face coverings for customers and employees, plexiglass partitions at welcome desks, food and refreshments pre-packaged to-go and a modified assisted beverage service. As well, to better safeguard customers, attendants will continuously clean lounge seating and restrooms, and enhanced cleaning measures include using electrostatic units and medical grade disinfectants. The new lounge services will also offer several touchless features, including presentation of all reading materials in digital format through PressReader. 

Additional details about Air Canada’s updated Maple Leaf Lounge services are here aircanada.com/serviceoffering.

Air Canada is continuing to evaluate and assess additional touchless and new biosafety initiatives to further advance safe and secure travel experiences.

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https://www.newswire.ca/news-releases/air-canada-reports-second-quarter-2020-results-809761194.html

 

Air Canada Reports Second Quarter 2020 Results


NEWS PROVIDED BY

Air Canada 

Jul 31, 2020, 06:00 ET

  • Total revenue decline of 89 per cent over second quarter of 2019 due to COVID-19 and government-imposed travel restrictions; cargo revenue up in the quarter
  • Total passengers carried decline of 96 per cent compared to the second quarter of 2019
  • Liquidity of $9.120 billion at June 30, 2020
  • Operating loss of $1.555 billion

MONTREAL, July 31, 2020 /CNW Telbec/ - Air Canada today reported unrestricted liquidity of $9.120 billion at June 30, 2020, in line with Air Canada's expectations, compared to unrestricted liquidity of $7.380 billion at December 31, 2019. Total revenues fell from $4.738 billion in the second quarter of 2019 to $527 million in the second quarter this year, a decline of $4.211 billion or 89 per cent. Cargo revenue increased 52 per cent to $269 million.  The airline reported second quarter 2020 negative EBITDA(1) (excluding special items) or (earnings before interest, taxes, depreciation and amortization) of $832 million compared to second quarter 2019 EBITDA of $916 million.  Air Canada reported an operating loss of $1.555 billion in the second quarter of 2020 compared to operating income of $422 million in the second quarter of 2019. 

"As with many other major airlines worldwide, Air Canada's second quarter results confirm the devastating and unprecedented effects of the COVID-19 pandemic and government-imposed travel and border restrictions and quarantine requirements. Canada's federal and inter-provincial restrictions have been among the most severe in the world, effectively shutting down most commercial aviation in our country, which, together with otherwise fragile demand, resulted in Air Canada carrying less than four per cent of the passengers carried during last year's second quarter. In the face of such an impossible operating environment, I am extremely proud of the outstanding efforts our team is making, doing everything possible to successfully navigate this crisis, leveraging our strong balance sheet and the many other assets we developed or acquired over the last decade," said Calin Rovinescu, President and Chief Executive Officer of Air Canada.

"Since mid-March, we have raised $5.5 billion in new equity, debt and aircraft financings in the capital markets, providing us with over $9 billion in liquidity as of June 30th to help weather the COVID-19 crisis. In addition, we have taken decisive action to cut spending and preserve liquidity - including a major management and front-line workforce reduction, a $1.3 billion reduction of our fixed costs and capital investments, the permanent retirement of 79 aircraft (representing more than 30 per cent of our combined mainline and Air Canada Rouge fleet), the indefinite suspension of certain domestic routes and station closures, and a reduction in our network seat capacity of 92 per cent in the quarter. These were some of the painful but necessary steps we have taken to stabilize our airline and preserve cash in these uncertain times. We will now look to the future using this unprecedented challenge as an equally unprecedented opportunity to rebuild a smaller but even more nimble airline, with a simplified and younger fleet and a lower cost structure coming out of the crisis.  

"Above all, today's reported declines in revenue of nearly 90 per cent and in passengers of over 96 per cent, should reinforce the tremendous urgency for governments in Canada to take reasonable steps to safely reopen our country and restore economic activity. Other jurisdictions globally are showing it is possible to safely and responsibly manage the complementary priorities of public health, economic recovery and job preservation and creation. This is why Air Canada recently added its voice to that of many business and union leaders, including more than 140 major Canadian corporations and travel and tourism companies, employing nearly three million Canadians, in calling on the Government of Canada to take prudent steps to replace current blanket travel restrictions and quarantines with targeted evidence-based measures that reflect current circumstances.

"For our part, Air Canada is laser-focused on business continuity and in positioning ourselves to emerge competitively as the pandemic recedes. To promote customer safety and confidence, we introduced Air Canada CleanCare+, a comprehensive, multi-layered approach to biosafety at all phases of the journey. As well, we have slowly begun to rebuild our network, recalling a small number of employees and selectively restoring the award-winning services that have placed Air Canada among the world's great airlines. For this I thank our employees for all of their incredible efforts and dedication and together we look forward to greeting our returning customers," said Mr. Rovinescu. 

Air Canada has taken or will take the following measures in response to the COVID-19 pandemic:

Customer Service and Safety

  • Air Canada makes safety its first consideration in all that it does and has been continually updating its health and safety policies and procedures for travellers and employees in all workplaces, airports, and onboard aircraft to account for new information about COVID-19 as it becomes available. This now includes a requirement for customers to wear a protective face covering, as well as enhanced protective personal equipment for airport agents and crews, the reinforcement of safe practices such as frequent hand-washing and collaborating with the Canadian federal government to screen passengers to help determine fitness for flying. For more details on preventative measures and policies, please see: 

    https://www.aircanada.com/covid19updates
  • To underscore its commitment to customer and employee safety, Air Canada introduced Air Canada CleanCare+. The new program is designed to reduce the risk of exposure to COVID-19 through such measures as enhanced aircraft grooming, mandatory preflight customer temperature checks in addition to required health questionnaires and providing all customers with care kits for hand cleaning and hygiene. 
  • Air Canada has undertaken several medical collaborations to continue advancing biosafety across its business, including with Cleveland Clinic Canada in Toronto, a renowned global healthcare leader to provide additional science-based evidence in our ongoing COVID-19 response; with Ottawa-based Spartan Bioscience to explore rapid COVID-19 testing in an aviation environment; and, since last year, with Toronto-based BlueDot, a company that monitors infectious diseases globally in real time to give us accurate, relevant information to make business and safety decisions quickly. 
  • To assist with global requirements of goods and personal protective equipment during the pandemic, Air Canada operated more than 2,000 all-cargo international flights since March 22, 2020, and plans to operate up to 100 all-cargo flights per week in the third quarter using a combination of Boeing 787 and Boeing 777 aircraft as well as four recently converted Boeing 777 and three converted Airbus A330 aircraft where it has doubled available cargo space by removing seats from the passenger cabin. 
  • Air Canada announced special benefits and accommodations for Aeroplan and Altitude members in light of COVID-19. These include pausing mileage expiration, grandfathering mileage-earned status, waiving certain change and redeposit fees, and launching new promotions so that members can earn additional Aeroplan Miles without leaving home.

Capacity

  • Air Canada reduced second quarter 2020 capacity by 92 per cent compared to the second quarter of 2019 and plans to reduce its third quarter 2020 capacity by approximately 80 per cent compared to the third quarter of 2019. This compares to a prior estimated reduction of 75 per cent, the larger reduction resulting from the continued extension of blanket travel restrictions in Canada. The airline will continue to dynamically adjust capacity and take other measures as required to adjust for demand including as a result of health warnings, travel restrictions, border closures and passenger demand. 
  • Air Canada suspended service indefinitely on 30 domestic regional routes and closed eight stations at regional airports in Canada.

Financing and Liquidity

  • In March 2020, Air Canada drew down its US$600 million and $200 million revolving credit facilities for aggregate net proceeds of $1.027 billion. 
  • In April 2020, Air Canada concluded a 364-day term loan in the amount of US$600 million, secured by aircraft and spare engines, for net proceeds of $829 million. 
  • In April 2020, Air Canada concluded a bridge financing of $788 million for 18 Airbus A220 aircraft which Air Canada expects to replace with longer-term secured financing arrangements later in 2020. The longer-term financing is expected to be secured by the 18 Airbus A220 aircraft. 
  • In June 2020, Air Canada concluded an underwritten marketed public offering of 35,420,000 Class A variable voting shares and/or Class B voting shares of the company at a price to the public of $16.25 per share, for aggregate proceeds of $576 million, and a concurrent marketed private placement of convertible senior unsecured notes due 2025 for aggregate proceeds of US$748 million ($1.011 billion). 
  • In June 2020, Air Canada completed a private offering of $840 million aggregate principal amount of 9.00 per cent Second Lien Secured Notes due 2024 (the "2024 Notes"), which were sold at 98 per cent of par. The 2024 Notes are secured obligations of Air Canada, secured on a second lien basis by certain real estate interests, ground service equipment, certain airport slots and gate leaseholds, and certain routes and the airport slots and gate leaseholds utilized in connection with those routes. 
  • In June 2020, Air Canada completed a private offering of one tranche of Class C EETCs with a combined aggregate face amount of approximately US$315 million ($426 million), which were sold at 95.002 per cent of par. The Class C tranche ranks junior to the previously issued Series 2015-1, Series 2015-2, and Series 2017-1 EETCs, and is secured by liens on the 27 aircraft financed under the Series 2015-1, Series 2015-2, and Series 2017-1 EETCs. The Class C EETCs have an interest rate of 10.500 per cent per annum, and a final expected distribution date of July 15, 2026. 
  • As a result of the above financing activities, unrestricted liquidity amounted to $9.120 billion and excess cash amounted to $6.820 billion as at June 30, 2020. Air Canada updated its definition of excess cash in the second quarter of 2020 to better reflect the current operating environment. Air Canada was previously using 20 per cent of trailing 12 months operating revenue as its estimate of the minimum cash required to support ongoing business operations. The minimum cash estimate has now been updated to a fixed amount of $2.4 billion. This minimum cash estimate considers Air Canada's various financial covenants, provides adequate coverage for advance ticket sales, and supports Air Canada's liquidity needs. 
  • Air Canada's unencumbered asset pool (excluding the value of Aeroplan and Air Canada Vacations) amounted to approximately $2.5 billion as at June 30, 2020. As part of Air Canada's ongoing efforts to increase liquidity levels, additional financing arrangements continue to be assessed. 
  • Air Canada suspended share purchases under its Normal Course Issuer Bid in early March 2020 and did not renew its issuer bid upon its expiry in the second quarter of 2020.

Cost Reduction and Capital Reduction and Deferral Program 

  • Air Canada initiated a company-wide cost reduction and capital reduction and deferral program as a result of COVID-19, which has now reached approximately $1.3 billion, increased from an initial target of $500 million. Excluding depreciation, amortization, and special items, second quarter 2020 operating expenses decreased $2.462 billion or 64 per cent from the same quarter in 2019. Air Canada continues to seek additional opportunities for cash preservation. 
  • Air Canada announced a workforce reduction of approximately 20,000 employees, representing more than 50 per cent of its workforce. This was achieved through layoffs, terminations of employment, voluntary separations, early retirements, and special leaves. 
  • Air Canada adopted the Canada Emergency Wage Subsidy (CEWS) for most of its workforce effective March 15, 2020. On July 17, 2020, the Government of Canada announced that the program would be redesigned and extended to December 2020. Air Canada intends to continue its participation in the CEWS program, subject to meeting the eligibility requirements. 
  • Air Canada is retiring 79 older aircraft from its fleet – consisting of Boeing 767, Airbus A319 and Embraer 190 aircraft. Their retirement will simplify the airline's overall fleet, reduce its cost structure, and lower its carbon footprint. 

Second Quarter Summary

Air Canada recorded a net loss of $1.752 billion or $6.44 per diluted share, compared to net income of $343 million or $1.26 per diluted share in the second quarter of 2019. 

At June 30, 2020, net debt of $4.564 billion increased $1.723 billion from December 31, 2019, reflecting the impact of net cash used for operating and investing activities in the first six months of 2020.  The unfavourable impact of a weaker Canadian dollar, as at June 30, 2020 compared to December 31, 2019, increased foreign currency denominated debt (mainly U.S. dollars) by $350 million 

In the second quarter of 2020, net cash flows used in operating activities of $1.251 billion deteriorated by $2.341 billionfrom the same quarter in 2019 on lower operating results and lower cash from working capital as a result of lower advance ticket sales, reflecting the severe impact of the COVID-19 pandemic.  In the second quarter of 2020, net cash inflows from financing activities amounted to $4.089 billion, an increase of $4.470 billion from the second quarter of 2019.

Net proceeds from debt and equity financings of $4.358 billion in the second quarter of 2020 reflected the impact of the financings discussed above. 

Outlook and Major Assumptions

As indicated above, Air Canada plans to reduce its third quarter 2020 capacity by approximately 80 per cent from the same quarter in 2019.  The airline will continue to dynamically adjust capacity and take other measures as required to account for health warnings, travel restrictions, border closures globally and passenger demand.

Air Canada projects a net cash burn(1) of between $1.35 billion and $1.6 billion (or between $15 million and $17 million per day, on average) in the third quarter of 2020.  This net cash burn projection includes $4 million per day in capital expenditures and $5 million per day in lease and debt service costs.  This compares to a net cash burn of $1.724 billion(or approximately $19 million per day, on average) in the second quarter of 2020.  The projected improvement in net cash burn in the third quarter of 2020 reflects the significant measures taken to reduce cash burn (as discussed above) and a modestly improving demand environment, partially offset by higher capital expenditures, including aircraft deliveries.  The projected net cash burn for the third quarter of 2020 assumes that certain international borders will be reopened, that travel restrictions in a number of markets will be lifted and that passenger demand will continue to improve.

 

 

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AC appears to be one of the most adversely affected large carriers. The 20% capacity forecast for Q3 (with no guidance for Q4 or 2021) reflects the badly damaged revenue environment it is facing.

$9B in liquidity. Cash floor $2.4B. Q3 burn rate approx $1.5B. If this burn rate or even a large fraction thereof continues in to Q4 and 2021, the situation is certainly not sustainable.

AC has taken out most of the available labour expense, it may have to look again at fleet and leases, particularly the B777.

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8 hours ago, rudder said:

 

$9B in liquidity. Cash floor $2.4B. Q3 burn rate approx $1.5B. If this burn rate or even a large fraction thereof continues in to Q4 and 2021, the situation is certainly not sustainable.

I would agree. I have come to the conclusion the Canadian government is determined to stick with 14 day quarantine, dispute viable alternatives, and will likely do so through to summer 2021.  
 

14 day quarantine + no aid = failures
 

I have heard this elsewhere but have taken it with a grain of salt.  But beginning to wonder.  Does anyone think Trudeau might like the idea that Covid is hammering the airline industry from a carbon footprint perspective?

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10 hours ago, conehead said:

Pretty strong jab at the government policies regarding border restrictions.

Stopping all service into and out of Ottawa would be stronger

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2 hours ago, Turbofan said:

I would agree. I have come to the conclusion the Canadian government is determined to stick with 14 day quarantine, dispute viable alternatives, and will likely do so through to summer 2021.  
 

14 day quarantine + no aid = failures
 

I have heard this elsewhere but have taken it with a grain of salt.  But beginning to wonder.  Does anyone think Trudeau might like the idea that Covid is hammering the airline industry from a carbon footprint perspective?

I agree with the indefinite quarantine.  I get the US closure, but most everywhere else is under control.  And I definitely agree with you Trudie will claim victory this year for reducing carbon footprint.  We already know he doesn't care for certain job & GDP producing sectors, likely open the borders/skies to foreign carriers to "promote competition". 

 

On a side note, I do see AC looking for a Director of Government Affairs.  Guessing the old one got sacked for obvious reasons.
https://careers.aircanada.com/jobs/5418123-director-government-affairs

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22 minutes ago, 330Heavy said:

 I get the US closure, but most everywhere else is under control.

Huh?  Things are nowhere near under control in the Western Hemisphere other than in Canada and several Caribbean nations.  Mexico, Brazil and Bolivia are being particularly hard hit.

Israel is a mess, as are India, South Africa and Iran.  Some countries in Europe are believed to be at the beginning of a second wave.

I do agree that Canadian quarantine requirements should be modified.

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Air Canada weighs aircraft cancellations

https://www.reuters.com/article/us-air-canada-results/air-canada-weighs-order-cancellations-blames-travel-restrictions-after-second-quarter-loss-idUSKCN24W1HB

Surprising if it's the 220, they seem very happy with it, aside from the altitude restriction.  However, only 7 of the 45 have been delivered at the end of June, I could see deferrals.

 

And given they are downsizing and considering further order cuts, recent finances and current restrictions, I would be very surprised if the TS deal goes through.  The share price already reflects that to pre sale announcement. 

Quote

$9B in liquidity. Cash floor $2.4B. Q3 burn rate approx $1.5B. If this burn rate or even a large fraction thereof continues in to Q4 and 2021, the situation is certainly not sustainable.

A US comparison of months cash on hand.

https://crankyflier.com/2020/07/30/figuring-out-how-much-cash-the-airlines-are-really-burning/

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