Air Canada Joins OTC Markets

On July the 29th, 2016, Air Canada officially qualified to begin trading on the OTCQX Best Market. Air Canada was previously traded on the Pink market and will now be upgraded to OTCQX. Air Canada can be found under the symbol ACDVF. Air Canada is the largest domestic and international airline within Canada and serves over 200 airports across six continents. The company provides passenger services to 64 airports in Canada, 87 in Europe and 55 in the United States. They also service airports in Asia, Australia, Mexico, the Middle East, and more.

Air Canada reported their quarterly earnings just days ago. The company’s performance was hindered by growing competition and economic weakness within Alberta. During the quarter, the company’s capacity grew 11%, while they spent around $2.6 billion on new aircraft during the first half of the year. For the quarter, the company’s adjusted net income fell 18% to $203 million. Operating revenue increase by 1.3% to $3.46 billion. Despite the improvements, the company’s stock sell 4.77% to close at $8.99 on concerns that Air Canada is adding too much capacity in the current heavily competitive market.

In other news, Air Canada just recently launched a new program, which will help aspiring traveler crowdfund their ideal trips. The new platform, Embarq, will allow would-be travelers to seek out willing donors, who will pay for their plane ticket. The crowdfunding platform is truly the first of its kind. On Friday, Air Canada’s ACDFV stock dropped 4.43% to close at $6.833. The stock has a 52-week range of $4812 to $10.001.