Air Canada (TSX:AC) has been one of the worst-affected Canadian companies by the COVID-19 crisis. The ongoing pandemic badly affected the airline's financials in 2020. Air Canada may continue to struggle for years with no immediate relief in sight, making its stock extremely risky at the moment. Let's take a closer look at why.
Air Canada is raising more money
On December 15, the largest Canadian airline revealed its plan to raise more money with a share offering. With this offering, the struggling airline plans to raise about $850 million to supplement its working capital and other cash needs. It also expects that the money raised with these offerings will help the company improve its cash position and allow it to implement recovery measures in the near future.
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