July 31, 2020

Air Canada takes huge loss amid pandemic travel shutdown

Montreal (AFP) – Air Canada on Friday announced a loss of more than CAN$1.7 billion (US$1.27 billion)  in the second quarter due to the “devastating effects” of the coronavirus pandemic. With travel at a near standstill, the airline’s revenue fell 89 percent in the April-June period, with most flights suspended due to containment measures and border closings imposed to stem the pandemic, Air Canada said in a statement.The number of passengers fell 96 percent compared to a year ago, forcing Air Canada to cut 20,000 jobs, more than half its workforce, the company said. “As with many other major …

source https://this.kiji.is/en/661957571502425185?c=648607265489716321

Leave a Reply

Your email address will not be published. Required fields are marked *