🏦TD Bank to buy Cowen for US$1.3B ✈️Air Canada grapples to meet demand 🚗Uber bookings surge Here's what you need to know today:
, but that didn’t quite live up to Bay Street’s expectations as the carrier fights basic supply and demand fundamentals. In today’s release, its CEO said advance ticket sales in the second quarter were at 94 per cent of Q2 2019 levels; yet its capacity was just 73 per cent of what it offered three years earlier. Also of note: its fuel bill surged to $1.45 billion from just $239 million a year earlier. Looking ahead, Air Canada nudged up its adjusted cost per available seat mile forecast .
Kumutha will recap the airline’s financials from a period when Canadians were dealing with chaos at airports, and we’ll get analyst reaction when Helane Becker from Cowen joins us at 10:30 a.m. ET.this morning, with almost every major commodity and global equity index in the red. Concern about a flare-up in China-U.S. tension as House Speaker Nancy Pelosi heads to Taiwan is weighing on sentiment.
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