A “Temporary Closure” sign is displayed on an Air Canada ticket counter in Terminal 2 at San Diego International Airport (SAN) in San Diego, California, USA, on Monday, April 27, 2020. Air Canada has fallen the most since December 21 because the Canadian government is considering tougher measures to limit travel in the country.
Photographer: Bing Guan / Bloomberg
Photographer: Bing Guan / Bloomberg
Air Canada has fallen by up to 6.2%, the most since December 21, as the Canadian government considers tougher measures to limit travel in the country due to new variants of Covid-19.
Prime Minister Justin Trudeau and members of his cabinet have spoken openly about tightening rules to discourage international travel. The country requires anyone boarding a flight to Canada to have a negative virus test, and most must also be quarantined for 14 days upon arrival. These measures have not stopped some Canadians from making winter trips to warmer destinations, where travel is not as restricted.
Deputy Prime Minister Chrystia Freeland stepped up warnings against international flights at a news conference on Monday.
“I can’t stress too much how important this is for all of us to just stay home,” she said. “As regards additional border measures, they shall be actively considered.”
Shares of Montreal-based Air Canada fell 4.4% to $ 21.12 C at 2:24 p.m. in Toronto, the largest decline in the six-member Bloomberg Americas Airlines index. Airline stocks are generally less concerned about the spread of new, more contagious variants of the virus.
Read more: Airlines Stocks Fall as Viruses Grow, Merck Quits Vaccines
– With the assistance of Kait Bolongaro