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Air Canada suspends financial guidance after planes grounded

Air Canada suspends financial guidance after planes grounded
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MONTREAL - Air Canada is suspending its financial guidance for this year following the decision by regulators in Canada and the United States to ground the Boeing 737 Max aircraft until further notice.

The airline says in light of the uncertainty, it is suspending the guidance it provided last month for its 2019 financial year.

Air Canada says its guidance for the years 2020 and 2021 for annual EBITDA margin and return on invested capital, as well as the cumulative free cash flow over the 2019-2021 period, remains in place.

Regulators around the world grounded the Boeing 737 Max aircraft over safety concerns arising from the crash of an Ethiopian Airlines flight that killed everyone on board, including 18 Canadians.

Concerns have been raised regarding similarities with a Lion Air flight involving the same aircraft that crashed off the Indonesian coast in October.
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