Falling loonie impacting Air Canada
Posted Feb 13, 2014 6:31 am.
This article is more than 5 years old.
The tumbling loonie is taking a toll on Air Canada.
The carrier’s shares took a dip Wednesday, falling by 19 per cent by the end of the day.
The National Post reports, the airline loses $33-million every time the Canadian dollar falls by one per cent.
National Bank Financial Analyst Cameron Deorksen tells the paper, rising fuel prices and competition will make more hurdles for Air Canada this summer.
The airline will be focusing on cost cutting and new ways to gain revenue.
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