MONTREAL — Canada’s major airlines are relatively well-positioned to weather the financial storm that has been unleashed by the COVID-19 pandemic, but regional players may find it tougher to stay afloat, experts say.
Air Canada, which is laying off more than 5,100 flight attendants and suspending most of its routes abroad by the end of the month, has a $7.3-billion cushion to fall back on — more than the most profitable U.S.
carrier, Delta Air Lines. WestJet Airlines Ltd. has halved its domestic capacity and cancelled all overseas and U.S. routes for 30 days.
The carrier has posted quarterly profits for 14 years straight, with the exception of one quarter in 2018. It is also shielded from stock market judgment after Onex Corp.