Major Air Canada holder endorses bailout and sees 50% upside

Rescue package: Air Canada airplanes at Vancouver’s international airport. Letko is the airline’s third-largest shareholder. — Reuters

TORONTO: Letko Brosseau & Associates Inc, one of Air Canada’s largest shareholders, says the terms of the government’s rescue package are fair and the airline’s stock could rise about 50% from current levels once the pandemic eases.

Canada’s largest carrier reached a deal Monday with the federal government for loans and equity worth C$5.9bil (US$4.7bil or RM19bil).