Written by Karen Thomas, MSc, CFA at The Motley Fool Canada
Air Canada (TSX:AC) – it’s been one of the hardest hit stocks since the pandemic. Today, it’s making a good effort at a comeback, yet, Air Canada’s stock price is stuck below $20. Is this an opportunity to get in at bargain prices or should we stay clear of it?
Let’s look into it.
Air Canada stock has been through the ringer
Four years ago, the pandemic hit and put an abrupt end to Air Canada’s good fortunes. The stock tumbled from a price of over $50 to $12. Business stopped and the company had to shift from a position of maximizing profits to a focus on survival.
And it did just that. In fact, not only did Air Canada survive, but today, the airliner is seeing extremely strong demand and a resurgence of profitability. For the full year of 2023, Air Canada posted revenue of $21.8 billion, up 32% versus 2022. This was a record number, and one…
