Air Canada's stock fell seven per cent in early morning trading after the carrier announced major cuts to its summer flight schedule.
The Montreal-based airline said Wednesday night it will nix more than 15 per cent of its flights in July and August as airports face lengthy delays and cancellations amid an overwhelming travel resurgence.
The move will see 154 flights per day on average dropped from the airline's schedule -- already operating at just 80 per cent of pre-pandemic levels -- affecting hundreds of thousands of passengers.The airline says the flights link mainly to its Toronto and Montreal hubs, and are all on domestic or Canada-U.S. routes.
In an email to customers, Air Canada CEO Michael Rousseau cited "unprecedented" strains on the global aviation system as peak travel season kicks off. Air Canada shares fell $1.27 or 7.4 per cent to $15.80 Thursday morning before rebounding slightly, deepening a decline from more than $21 per share at the start of the month.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mother spends 'awful' night on Toronto Pearson floor with young kids, baby amid Air Canada delaysA mother of three children is speaking out on ongoing travel delays after spending a night on the floor of Toronto Pearson Airport with her young kids and six-month-old baby during a weekend of travel that she says cost her most than $1,000 in unexpected expenses.
Read more »
Air Canada to make 'meaningful reductions' to summer flight schedule | CBC NewsAir Canada to make 'meaningful reductions' to summer flights. Airline president blames 'unprecedented and unforeseen strains on all aspects of the global aviation system.'
Read more »
Air Canada to slash summer flight schedule as airports face lengthy delaysAir Canada says it will make “meaningful reductions” to its flight schedule in July and August as airports face lengthy delays and cancellations amid a post-pandemic travel surge.
Read more »
Air Canada to reduce flights this summer amid 'customer service shortfalls'
Read more »
Air Canada reducing summer flights as industry faces ‘unprecedented strains’ on travel operationsAir Canada is reducing its schedule, on average, by 77 round trips, or 154 flights, a day in total for July and August
Read more »
Air Canada announces ‘meaningful reductions’ to July and August flight schedules“To bring about the level of operational stability we need, with reluctance, we are now making meaningful reductions to our schedule in July and August in order to reduce passenger volumes and flows to a level we believe the air transport system can accommodate,” said an email from the airline’s CEO to customers Wednesday night.
Read more »