| All News |
| If you want to see all news from the last 100 days in order by date,
click here. |
|
| Search News |
| Enter any query and search the aviation news database |
|
|
 |
|
 |
|
International
Aviation News |
|
 |
|
 |
|
|
|
|
| |
Air Canada Shares Drop As Oil Rises To Record
|
Shares of Air Canada fell to a record low, dropping 15 percent as oil prices climbed to a new high.
Air Canada´s A shares dropped 89 Canadian cents to CAD$5.01 on the Toronto Stock Exchange. The stock has dropped 64 percent over the past 12 months.
Shares of ACE Aviation, Air Canada´s parent, also plunged. ACE´s B shares fell CAD$1.81, or 13 percent, to CAD$12.24, also a record low.
The airline has struggled to cope with high fuel costs, which are cutting into profits. Air Canada has tacked fuel surcharges on to its ticket prices and announced last month it would cut 2,000 jobs and cull its routes to lower costs.
On Thursday the airline said 632 flight attendants, 9 percent of its in-flight staff, would be laid off as part of those cuts.
Fuel is the biggest single expense for airlines, accounting for up to one-third of costs. Oil prices rose to another record on Friday, touching USD$147.27 a barrel, before falling back to USD$145.08, up USD$3.43.
|
| |
| News material on the Site is copyright and belongs
to the Company or to its third party news provider, and all
rights are reserved. Any User who accesses such material may
do so only for its own personal use, and the use of such material
is at the sole risk of the User. Redistribution or other commercial
exploitation of such news material is expressly prohibited.
Where such news material is provided by a third party, each
User agrees to observe and be bound by the specific terms of
use applying to such news material. We do not represent or endorse
the accuracy or reliability of any of the info contained in
any news or external websites referred to in the news. |
|
|
|
|
|
|
|
