In the days following the tragedy of Ethiopian Airlines flight 302, airlines and governmental aviation boards have taken a firm stand against Boeing’s 737 MAX 8 aircraft. 393 planes are currently grounded internationally, posing a significant financial challenge for airlines.
Air Canada (TSX:AC)(TSX:AC.B) boasts a fleet of 24 737 MAX 8 aircraft in operation since 2017. This may be a troublesome figure for shareholders who have felt the impact since the accident on March 10. Shares of Air Canada were hovering around their YTD high of $35.50 before falling to a low of $30.96. However, investors who held their shares or bought the dip have seen their positions grow since the initial scare.