Air Canada CEO seeing stronger demand for cargo services
Air Canada CEO, Calin Rovinescu, stated the carrier is beginning to see a stronger demand for cargo services, leading Rovinescu to believe the economic recovery has commenced (Reuters, 26-Mar-2010).
Air Canada: "We've seen some encouraging news from the cargo environment, we are seeing a marked improvement over last year and generally cargo tends to be the bellwether indicator that the recovery is starting. Businesses tend to need to recover first before ... airlines that cater to businesses start seeing the recovery. We've probably had ... since the beginning of this year, the strongest share performance among the North American carrier. We started from a much lower point. Last year the airline traded on ... some of the cash and liquidity risks. Now that those are largely behind and we've started to see a rebound in the stock price," Calin Rovinescu, CEO of Air Canada. Source: Reuters, 26-Mar-2010.