Canada’s largest airline, Air Canada (OTCMKTS:ACDVF) offers scheduled passenger service directly to 51 airports in Canada, 51 in the United States, and 86 internationally. Being the sole international network carrier in North America to receive a Four-Star ranking from Skytrax, it has even received awards for the Best Airline Staff in North America, Best Airline Staff in Canada, Best Business Class Lounge in North America, and an excellence award for managing COVID-19. It intends to achieve a net zero emissions goal from all global operations by 2050.
Trading Data
On Friday, ACDVF stock ended flat at $13.10 with more than 72K shares, compared to its average volume of 78K shares. The stock moved within a range of $12.60 – 13.46 after opening trading at $12.60.
United Airlines expands code-sharing pact with Air Canada
United Airlines Holdings Inc and Air Canada, on July 22, 2022, expanded their code-sharing agreement. Airlines are reeling due to growing cost pressures and operational hurdles, but expect better demand for international travel to aid the path towards profitability. Code-sharing enables an airline to sell seats on a flight operated by its partner. The purpose is to fly passengers to destinations it doesn’t serve. This move comes in the wake of carriers speeding up their post-pandemic recovery and cashing in on the growing international travel market.
According to the expanded deal, passengers who search for flights between the United States and Canada on United’s or Air Canada’s websites and apps will get access to more flight options and each airline’s seat inventory. Both carriers expect to connect customers to 46 transborder codeshare destinations in 2022, excluding certain U.S. leisure markets and territories.
Air Canada and Emirates Form Strategic Partnership
On July 12, 2022, Air Canada and Emirates announced the signing of a strategic partnership agreement to create more options for customers when traveling on the carriers’ networks. It is aimed at improving the customer experience throughout the journey. It was back then when Air Canada and Emirates spoke about their intention to establish a codeshare relationship later in 2022. It would offer enhanced consumer travel choices for Air Canada customers to travel to the United Arab Emirates and to destinations beyond Dubai.
Emirates customers will also enjoy an enhanced travel experience when travelling to Toronto or to key destinations across the Air Canada network. Customers will be able to book connecting travel between both airlines’ networks with the ease of a single ticket, seamless connectivity at the carriers’ respective global hubs, and baggage transfers to their final destinations.
Michael Rousseau, President and Chief Executive Officer at Air Canada, stated that they are looking forward to introducing Air Canada codeshare service on vital Emirates flights, as well as adding the EK code on select Air Canada flights, and welcoming Emirates customers on our services later this year. Sir Tim Clark, President of Emirates Airlines, commented that customers will now get access to even more destinations in Canada and the Americas, via our Toronto and US gateways, thanks to the partnership.
Technical Data
ACDVF stock is trading below the 20-Day and 50-Day Moving averages of $13.31 and $14.68 respectively. Moreover, the stock is trading below the 200-Day moving average of $17.27. The company has a total market capitalization of $4.69 billion. The stock is down 4% over the past month.
