BUZZ-Air Canada: Falls as it suspends flights on 30 domestic routes

** Shares of Canada's largest carrier fall ~3% to C$16.91 in afternoon trade

** Company suspends flights on 30 domestic routes; permanently removes 79 aircraft from its fleet

** Expects Q3 capacity to fall at least 75% from a year earlier

** AC to reduce workforce by more than 50%

** Says a company-wide cost reduction and capital deferral program has till date identified around $1.1 billion in savings

** Warns that travel restrictions and border closures were dimming near-to-mid-term recovery prospects

** AC stock down ~65% so far this year (Reporting by Shreyasee Raj in Bengaluru)

06/30/2020 16:47

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