ACDVF - It's Time To Fly Air Canada

• Air Canada’s cash burn continues to improve, which bodes well for the post-3Q outlook.
• Management also remains typically conservative on its guidance, leaving ample room for upside as the environment normalizes in the coming years.
• The Transat transaction could prove massively accretive, while potential government support is a bonus catalyst.
• The valuation gap vs. US peers seems unwarranted and should narrow as Air Canada proves out its fundamentals in the coming quarters.

For further details see: