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At the end of August, he gave the impression that optimism had returned to heaven. Air Canada (TSX: AC) and WestJet had conducted COVID-19 testing at airports in Canada to delay the mandatory 14-day quarantine restriction imposed by the government. This restriction has curbed demand from Air Canada and its peers in a brutal environment for the industry.
An increase in the number of cases in Canada has led provinces to seek a return to more restrictions, albeit on a more regional basis, which bodes well for short-term passenger jets.
Air Canada inventories fell by 9. 7% month-to-month at the end of October 9, inventory fell by 66% in 2020, and case accumulation led to a return to Phase Two restrictions in Toronto, Canada’s most populous city. Fortunately, Ontario reported two consecutive days of decline after a record last week.
We don’t know how policymakers will move us forward in the coming weeks and months. Municipal, provincial and federal leaders are well aware of the economic and monetary devastation caused by the first circular of closures. It will be hard sacrificios. de to ask for more from an unlucky Canadian audience when the holiday season begins.
Obviously, this season has historically been vital for Air Canada and other passenger aircraft. Companies are still looking to locate every concession imaginable to bring their activities to life in the coming months.
Air Canada has not given up hope in its commitment to 14-day quarantine. Last week, the company reported that more than 99% of the 15,000 voluntary COVID-19 tests conducted on foreign consumers at Toronto Pearson International Airport were negative. the ones that tested positive, 80% were detected in the initial test.
However, the Canadian Public Health Agency has given no indication that it intends to withdraw from this policy. A spokesman recently stated that a negative check does not necessarily mean that a traveler does not have COVID-19.
Air Canada also made headlines with its acquisition of Air Transat. On recent occasions, the company has allowed the company to reduce its acquisition value to $5 according to a constant percentage of $18 consistent with the promised constant percentage, bringing the requisition value to $190 million of the original $720 million. .
Earlier this month, I talked about whether investors deserve to give up Air Canada shares. Advances in the COVID-19 vaccine have been driving markets for months. Srinivas Murthy, a professor of medicine at the University of British Columbia, recently predicted that Canada deserves an effective vaccine by spring 2021. Last week, Health Canada won its first application for approval from a COVID-19 it is developed through AstraZeneca with the University of Oxford in England.
Canadian lawmakers have demonstrated their commitment to an incredibly cautious approach. A vaccine may be the most productive hope in 2021 for Air Canada and its peers. Fortunately, we can see one faster than after.
The time of COVID-19 publication: Should you stay away from Air Canada stock (TSX: AC)?First he gave the impression on The Motley Fool Canada.
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Silly collaborator Ambrose O’Callaghan has no position in any of the above movements.
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