After entertaining new entrants for several years, Canada's airline market is once again on the path to consolidation, raising the likelihood of higher fares and fewer flight options. Since May, newer low-cost carriers Swoop and Lynx Air have disappeared from the skies and WestJet has scooped up Sunwing Airlines.
The latter two alone made up 37 per cent of seat capacity on direct flights to sun destinations and 72 per cent from Western Canada last year, according to an October report from the Competition Bureau. It said eliminating the rivalry between WestJet and Sunwing would likely suppress competition around the sale of vacation packages. Some experts warn that the shrinking airline tally could mean less service and higher prices, particularly in the West and smaller markets across the country.High airport rents, security fees and fuel taxes raise the baseline cost of flying, making it harder for budget airlines to coax budget-conscious Canadians on boar
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Canadian airline market on path to consolidation, raising risk of higher faresMONTREAL — After entertaining new entrants for several years, Canada's airline market is once again tracking toward consolidation, raising the likelihood of higher fares and fewer flight options.
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Canadian airline market on path to consolidation, raising risk of higher faresSince May, newer low-cost carriers Swoop and Lynx Air have disappeared from the skies and WestJet has scooped up Sunwing Airlines
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Labour market gains 41K jobs in Canada, supports Bank of Canada holding rates for longerStatistics Canada said February's increase in the labour market was driven by a rise in full-time work.
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Bank of Canada's interest rate decision shouldn't depend on housing market, economists argueAs Canada's inflation rate fluctuates, economists suggest that the Bank of Canada should not base its interest rate decision on the housing market. The January consumer price index report is expected to show a decrease in the inflation rate. Lower energy and food prices are believed to be the main factors behind the slowdown.
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Bank of Canada worries a rate cut now could overheat the spring housing marketBank of Canada Governor Tiff Macklem holds a press conference at the Bank of Canada in Ottawa on Wednesday, March 6, 2024. THE CANADIAN PRESS/Sean Kilpatrick
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Stock market today: Wall Street drifts near its records amid a worldwide market lullNEW YORK (AP) — Stocks are drifting around their records on Wall Street, as a lull carries through financial markets worldwide. The S&P 500 was little changed in early trading Wednesday, a day after setting an all-time high.
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