Prior to the pandemic, we were big fans of Air Canada. However, post pandemic the balance sheet has been destroyed and the company has a long, long return back to pre-pandemic financial health.
Debt levels have ballooned over the years, shareholder equity has been reduced to a fraction of what it was, and airlines are still having trouble even in a post-pandemic environment.
Couple this with the fact its debt is only going to get more expensive in the forward moving environment and margins are currently negative, and it is a hard pass from me.