Air Canada was the world's best airline stock two months ago. Now it's the worst - Coronavirus...
Air Canada lost $3.9 billion in market capitalization from its January peak
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February 27, 2020 - by Divya Balji Bloomberg for financialpost.com
Two months ago, it was the world's hottest airline stock. Now, investors are shunning it.
Air Canada lost $3.9 billion (US$3 billion) in market capitalization from its January peak, making it the worst-performing airline on the Bloomberg World Airlines Index this year.
Its shares have slumped 28 per cent on deepening fears that the spread of the coronavirus will hinder travel.
On Tuesday, the carrier extended the cancellation of all flights between Canada and China to April 10 over concerns about the virus known as Coved-19.
It also stopped daily non-stop flights between Toronto and Hong Kong until April 30 due to reduced market demand.
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