AC - Air Canada: 737Max Grounding Not A Problem Multiple Expansion Will Continue In 2019
Investment Thesis
Air Canada (ACDVF) (TSX:AC) delivered solid Q1 2019 with strong top and bottom lines growth. Despite the near-term noise from the grounding of its 737 MAX, we continue to have a positive outlook on Air Canada. In fact, we think its newly-acquired Aeroplan business should continue to help drive long-term top and bottom lines growth. In addition, the company has significantly reduced its debt and has recently received debt rating upgrades. We also like Air Canada’s continual expansion by adding more international routes. In addition, it is also executing