🔴 Air Canada is trading 7.91% down today after cutting 2026 earnings outlook on fuel costs

Air Canada is trading 7.91% down at CA$20.14 after cutting its 2026 adjusted earnings forecast on higher fuel prices.

• In its October 29 update, it cut 2026 adjusted earnings forecast to $2.4–$2.7 billion from $2.9–$3.2 billion.
• Net income fell 47% year over year despite record quarterly revenue and adjusted earnings above analysts’ expectations.
• The Competition Bureau objected to the proposed expanded United Airlines partnership; airlines were higher, unlike Air Canada.