Air Canada News:
A faceoff this week between WestJet Airlines and its pilots over pay could set the stage for aviators’ demands in future bargaining with Air Canada. Approximately 4,500 pilots from Air Canada recently joined the Air Line Pilots Association, a move that could potentially pave the way for bargaining with the airline in the near future. While the exact timing of negotiations remains uncertain, Air Canada has emphasized that it is premature to discuss such matters, highlighting the existence of a collective agreement in force with its pilots for up to 10 years. However, as the end of this decade-long agreement approaches, anticipation grows regarding the upcoming bargaining process.
The outcome of the WestJet Airlines pay dispute may significantly influence future negotiations between Air Canada and its pilots. The resolution achieved, or lack thereof, in the WestJet case could set a precedent for bargaining strategies and demands made by pilots’ associations. Air Canada, as Canada’s largest carrier, will likely face similar demands from its pilots regarding pay and other working conditions.
Air Canada Stock Forecast:
According to 15 analysts, the average target price for Air Canada stock over the next 12 months is CAD 27.15. The analysts’ average rating for the stock is “Buy.” Stock Target Advisor‘s own analysis of Air Canada indicates a bullish outlook, supported by 13 positive signals and 3 negative signals. As of the last closing, Air Canada’s stock price stood at CAD 22.32. Over the past week, the stock price has increased by +6.34%, while over the past month, it has risen by +17.72%. In the last year, the stock price has also shown a growth of +3.14%.
Analysts Coverage Change:
May 17th, 2023 – Raymond James raised the target price on Air Canada (AC:TSX) to $28 from $23 on the company’s stock.
