Calin unloads shares for $52.7 million

[CanadianEh]

Looks like Calin unloaded over 1.2 million shares over the last week. Article excerpt and links below.

https://www.theglobeandmail.com/busines ... k-options/

MONTREAL, Aug. 6, 2019 /CNW Telbec/ - Air Canada said today that during the permitted open period following the release of its Second Quarter results, Calin Rovinescu, President and Chief Executive Officer, has exercised Stock Options from 2013 and sold the underlying 1,269,149 Class B Voting Shares on the Toronto Stock Exchange through the facilities of a Canadian investment dealer, as reported in applicable securities filings.

Mr. Rovinescu plans to use proceeds from the sale of shares for investment diversification, estate planning and to fund his Family Foundation for charitable giving.

The Stock Options exercised were scheduled to expire in the first half of 2020 and the shares sold represented less than one third of Mr. Rovinescu's total equity interest in Air Canada.

https://stockhouse.com/news/press-relea ... DKI7UCC.99

[Daniel Cooper]

Maybe he thinks the Transat deal isn't going to go through.

[Inverted2]

Maybe he thinks the Transat deal isn't going to go through.

Or a major economic downturn is coming which usually causes airline shares to plummet.

[ahramin]

Or the options expire in less than a year.

[mato]

It’s definitely a great time to sell, AC has had a great run the past couple years. I would be putting my money elsewhere now. But then again I said that when they were in the 30s too.

[Duke Point]

Calin has done an amazing job at turning Air Canada around. There's no conspiracy.

He deserves to cash out a bit (less than a third) of the fruits of his labour. Some may counter his methods, however, he took the stock from worthless to over $40.

I applaud the man.

DP.