How to Buy Air Canada Stock in Canada

Stocks Jul 17, 2024 5 min read
How to Buy Air Canada Stock in Canada

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Air Canada is traded on the Toronto Stock Exchange in Canada.

As a Canadian investor, you can buy this stock on any Canadian trading platform in just a few simple steps!

1. Select a suitable trading platform
2. Create a new account on the broker trading platform and deposit funds
3. Select the company you want to invest into (i.e., Air Canada)
4. Choose your order type and the number of shares you want to buy
5. Execute the trade

1. Select a suitable trading platform

The first step to buying Air Canada shares requires you to make a decision on the trading platform you would like to use.

Canadians have several options available to them either through their bank (e.g., CIBC) or through other platforms (e.g., Wealthsimple).

  • Ability to purchase Air Canada stock in Canada
  • Low commissions
  • Aims to get you the best possible price

2. Create an Account

Once you have selected the platform you would like to trade with, you have to open an account with that platform.

Most platforms will ask for identity verification details to validate that you are who you say you are.

By having your proof of ID (such as passport, driver’s license, etc.) ready to go, you can save time on the account opening process.

3. Select the company you want to invest into

In this case, you are likely looking to invest into Air Canada.

Different brokerage platforms have different user interfaces for how to navigate to your selected stock.

Once you are familiar with your chosen brokerage’s interface, you will need to enter the stock ticker (TSE:AC).

Alternatively, you may also be able to write out the full name (Air Canada) of the stock.

4. Choose your order type and the number of shares you want to buy

Once you have located the relevant stock, the next step is to enter the number of shares you want to buy of the stock.

At this stage, you will also need to select your order type. In general, you have three main types of orders:

  • Market order: Your order gets fulfilled at the prevailing market price
  • Limit order: An order to buy a stock at or below a maximum threshold. Your order only gets fulfilled if the market price meets this threshold or is lower.
  • Stop order: An order to buy a stock only when it reaches a pre-defined threshold. Your order gets fulfilled at the next available price once this threshold is met.

5. Execute the trade

The last step is to execute the trade by pressing the ‘Buy’ button.

At this stage, the brokerage platform will match you automatically to a seller willing to sell their shares at a mutually acceptable price.

Once this transaction is complete, your order is said to be ‘filled’, and you are the proud owner of Air Canada’s stock.

How Many Air Canada Shares Should I Buy?

The number of shares you should buy is dependent on your own personal financial profile and portfolio size, investing strategy and risk tolerance. Your investment criteria may differ entirely from your neighbour’s, and there is no single right answer.

For example, you may already own shares of another airline company.

In this case, you should consider whether you want to add Air Canada shares, replace the existing shares with Air Canada stock or keep them as they are.

Similarly, if you are a passive investor, then you might want to find ETFs or mutual funds that hold Air Canada stock rather than owning the stock yourself.

Another consideration is that airline stocks tend to be more cyclical and follow the general health of the economy.

As such, if you have a bullish view on the economy in the short- to medium-term, then you might want to buy more shares of the Air Canada] stock.

However, if you have a somewhat pessimistic view, then you may want to lower your exposure to Air Canada or skip it entirely.

It is also important to do your research on Air Canada to understand their strategy and operations.

Since the company is publicly traded, you can find a lot of good information in their most recent annual report or quarterly filings which contain comprehensive insight into the business’s history, recent financial results, growth plan, risks, and more.

You can check out Air Canada’s Investor Relations page to find various filings, press releases, and presentations that will help you better understand the company.

This information can also help inform your decision on the number of shares you want to buy.

Air Canada Company Overview

Air Canada operates an extensive fleet of aircraft serving domestic and international routes.

With a history spanning over eight decades, Air Canada has established itself as a leader in the aviation industry, known for its commitment to safety, reliability, and customer service.

The airline’s fleet comprises various aircraft types, including narrow-body Airbus A320 family and Boeing 737 aircraft for short to medium-haul routes, and wide-body Boeing 777 and 787 Dreamliner aircraft for long-haul international flights.

Additionally, Air Canada operates the Airbus A220, known for its fuel efficiency and passenger comfort, on select routes.

Air Canada’s route network covers destinations across the Americas, Europe, Asia, Africa, and Oceania, with major hubs in Toronto, Montreal, and Vancouver.

The airline offers an extensive range of services, including premium cabins, in-flight entertainment, and onboard Wi-Fi, catering to the needs of both leisure and business travelers.

Despite challenges posed by the pandemic, Air Canada remains committed to providing safe and seamless travel experiences, connecting passengers to destinations worldwide while maintaining a focus on sustainability and innovation.

Air Canada also operates Air Canada Cargo, a service that offers cargo services on both passenger and all-cargo flights.

Air Canada Stock Chart


Frequently Asked Questions

Still have questions? Ask PiggyBank!
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Can I buy Air Canada stock in Canada?

Yes, you can buy Air Canada stock in Canada.

Can I buy Air Canada stock on Wealthsimple?

Yes, you can buy Air Canada shares on Wealthsimple.

Can I buy Air Canada stock on Questrade?

Yes, you can buy Air Canada shares on Questrade.

Can I buy Air Canada stock on Interactive Brokers Canada?

Yes, you can buy Air Canada shares on Interactive Brokers in Canada.


Harshil Dhanky

Harshil Dhanky

Harshil Dhanky is a financial services professional based out of Toronto, Ontario with extensive experience in the Canadian banking industry across Toronto, Calgary, and Vancouver in the capital markets, asset management, and lending sectors.

In the past, Harshil has worked with a range of consumer lending websites, personal finance advisors, investment managers, insurance companies, and other financial institutions to write and edit whitepapers, articles, blog posts, and other collateral read by consumer audiences to help them make better financial decisions.

His work spans a wide range of Canadian personal finance topics including savings and retirement programs, debt management tips, mortgages and personal loans, and other key financial issues for Canadian consumers at each stage of their life.

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