logo
Plus   Neg
Share
Email

Air Canada To Remove 737 MAX Flying From Schedule Until At Least July 1, 2019

Air Canada said that it has adjusted its schedule through to April 30 to cover 98 per cent of its planned flying following Transport Canada's closure of Canadian airspace to Boeing 737 MAX aircraft operations. Air Canada intends to remove 737 MAX flying from its schedule until at least July 1, 2019.

In compliance with the safety notice, Air Canada has grounded its 24 737 MAX aircraft and Boeing has advised that deliveries of its 737 MAX are currently suspended. Air Canada was expecting six new aircraft in March and April.

Air Canada said it is now updating its May schedule to further optimize its fleet and re-accommodate customers. Because the timeline for the return to service of the 737 MAX is unknown, for planning purposes and to provide customers certainty for booking and travel, Air Canada intends to remove 737 MAX flying from its schedule until at least July 1, 2019.

On Friday, Air Canada announced that, following Transport Canada's safety notice closing Canadian airspace to Boeing 737 MAX aircraft until further notice, the Federal Aviation Administration's temporary grounding order and Boeing's decision to suspend MAX deliveries to airline customers, it suspended all financial guidance it provided in respect of the first quarter and full year 2019.

Air Canada also said it suspended all financial guidance it provided on February 15, 2019 and February 28, 2019 in respect of the 2019 financial year. The financial guidance provided for the years 2020 and 2021 with respect to annual EBITDA margin (earnings before interest, taxes, depreciation, amortization and impairment, as a percentage of operating revenue) and annual ROIC (return on invested capital) as well as the cumulative free cash flow over the 2019-2021 period remains in place.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Intel Corp. said it is probing into the hack of its fourth-quarter earnings report that prompted the chipmaker to release its earnings statement ahead of schedule. The company, which was scheduled to release the results after the market closed, released it before the market closing on Thursday. Google parent Alphabet decided to drop its Internet balloon project Loon that was launched with the idea of providing Internet access to rural areas and providing last mile connectivity. In a blog post, Loon CEO Alastair Westgarth said they have not found a way to get the costs low enough to build a long-term, sustainable business, despite gaining a number of interested partners along the way. American Airlines announced the launch of Flagship Cellars, its home delivery service for premium wines usually available onboard. The airline's move is said to be due to the excess wine it has amid the weakness in air travel demand following the coronavirus pandemic crisis. The company expects the new at-home wine program to generate about $40,000 to $50,000 in sales during the first quarter.
RELATED NEWS
Follow RTT