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Canadian (TSX) Airlines Industry Analysis

UpdatedMar 05, 2026
DataAggregated Company Financials
Companies4
  • 7D-6.5%
  • 3M12.7%
  • 1Y48.0%
  • YTD9.8%

Over the last 7 days, the Airlines industry has dropped 6.5%, driven by a pullback from Air Canada of 9.4%. In contrast, Volatus Aerospace has gained 5.7%. In the past year, the industry has gained 48%. As for the next few years, earnings are expected to grow by 11% per annum.

Industry Valuation and Performance

Has the Canadian Airlines Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 05 Mar 2026CA$12.5bCA$27.0bCA$872.4m8.6x14.3x0.5x
Sat, 31 Jan 2026CA$11.9bCA$26.4b-CA$247,552,264.0037x-47.9x0.4x
Mon, 29 Dec 2025CA$11.3bCA$26.4b-CA$247,552,264.0031.7x-45.5x0.4x
Wed, 26 Nov 2025CA$10.6bCA$26.4b-CA$245,329,820.0029.6x-43.3x0.4x
Fri, 24 Oct 2025CA$10.5bCA$26.5bCA$1.5b17.1x6.9x0.4x
Sun, 21 Sep 2025CA$10.3bCA$26.5bCA$1.5b16.3x6.7x0.4x
Tue, 19 Aug 2025CA$10.4bCA$26.5bCA$1.5b16.4x6.9x0.4x
Thu, 17 Jul 2025CA$11.0bCA$26.4bCA$1.7b15.7x6.5x0.4x
Sat, 14 Jun 2025CA$9.7bCA$26.4bCA$1.7b13.6x5.7x0.4x
Mon, 12 May 2025CA$9.1bCA$26.3bCA$1.7b13.2x5.3x0.3x
Wed, 09 Apr 2025CA$7.2bCA$26.4bCA$1.7b11x4.2x0.3x
Fri, 07 Mar 2025CA$8.6bCA$26.4bCA$1.7b11.8x5.1x0.3x
Sun, 02 Feb 2025CA$10.1bCA$26.4bCA$2.7b15.8x3.7x0.4x
Tue, 31 Dec 2024CA$11.5bCA$26.4bCA$2.7b16.7x4.3x0.4x
Thu, 28 Nov 2024CA$12.2bCA$26.3bCA$2.7b18.5x4.5x0.5x
Sat, 26 Oct 2024CA$9.9bCA$26.6bCA$1.9b13.6x5.2x0.4x
Mon, 23 Sep 2024CA$8.7bCA$26.6bCA$1.9b12.3x4.5x0.3x
Wed, 21 Aug 2024CA$8.5bCA$26.6bCA$1.9b11.4x4.4x0.3x
Fri, 19 Jul 2024CA$2.8bCA$4.3bCA$163.2m15.8x17.4x0.7x
Sun, 16 Jun 2024CA$2.5bCA$4.3bCA$163.2m13.6x15.3x0.6x
Tue, 14 May 2024CA$2.8bCA$4.3bCA$152.3m14.7x18.1x0.6x
Thu, 11 Apr 2024CA$2.8bCA$4.2bCA$177.3m12.7x15.6x0.7x
Sat, 09 Mar 2024CA$2.8bCA$4.2bCA$177.3m12.6x15.5x0.7x
Mon, 05 Feb 2024CA$2.8bCA$4.1bCA$186.3m12.5x14.8x0.7x
Wed, 03 Jan 2024CA$2.7bCA$4.1bCA$186.3m12.2x14.4x0.7x
Fri, 01 Dec 2023CA$2.6bCA$4.1bCA$186.3m11.8x14.2x0.6x
Sun, 29 Oct 2023CA$2.5bCA$4.0bCA$192.8m11x12.7x0.6x
Tue, 26 Sep 2023CA$2.6bCA$4.0bCA$192.8m11.5x13.4x0.6x
Thu, 24 Aug 2023CA$2.8bCA$4.0bCA$193.8m12.6x14.5x0.7x
Sat, 22 Jul 2023CA$3.2bCA$3.9bCA$130.4m24x24.3x0.8x
Mon, 19 Jun 2023CA$3.1bCA$3.9bCA$130.4m22.6x23.7x0.8x
Wed, 17 May 2023CA$3.0bCA$3.9bCA$131.5m22.3x22.7x0.8x
Fri, 14 Apr 2023CA$3.0bCA$3.7bCA$129.6m22.9x23.3x0.8x
Sun, 12 Mar 2023CA$2.9bCA$3.7bCA$129.6m22.8x22.2x0.8x
Price to Earnings Ratio

22.2x


Total Market Cap: CA$2.9bTotal Earnings: CA$129.6mTotal Revenue: CA$3.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Airlines Industry Price to Earnings3Y Average 6.6x202420252026
Current Industry PE
  • Investors are optimistic on the Canadian Airlines industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 14.3x which is higher than its 3-year average PE of 6.6x.
  • The industry is trading close to its 3-year average PS ratio of 0.53x.
Past Earnings Growth
  • The earnings for companies in the Airlines industry have grown 89% per year over the last three years.
  • Revenues for these companies have grown 94% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Canadian Industrials industry?

CA Market-0.89%
Industrials1.55%
Airlines-6.54%
Airlines-6.54%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
FLT Volatus AerospaceCA$0.745.7%
+CA$26.8m		335.3%PS14.7x

Latest News

EIF
CA$102.95
Exchange Income
7D
-4.8%
1Y
101.7%
FLT
CA$0.74
Volatus Aerospace
7D
5.7%
1Y
335.3%
TRZ
CA$2.58
Transat A.T
7D
-0.8%
1Y
48.3%
AC
CA$18.90
Air Canada
7D
-9.4%
1Y
13.4%

AC: Capacity Plans And Fleet Refresh Will Shape Balanced Risk Reward

Our updated Air Canada narrative reflects a higher fair value estimate of CA$20.10 from CA$18.69, in line with recent analyst price target increases into the CA$22 to CA$27 range, supported by refreshed earnings models and mixed views on the company’s longer term capacity growth plans. Analyst Commentary Street research on Air Canada has been active, with several firms updating their models and price targets following recent earnings.
CHR
CA$23.81
Chorus Aviation
7D
-4.3%
1Y
15.9%