Question $4(20$ points$)$Air Canada ACDVF is scheduled to report second$-$quarter $2023$ results on Aug $11,$ before market open. The company has a disappointing earnings surprise history, having missed the Zacks Consensus Estimate in three of the preceding four quarters $($beating once$).$ The average miss is $241\mathrm{.}51\%.$ The Zacks Consensus Estimate for second$-$quarter earnings has been revised $2\mathrm{.}7\%$ upward over the past $60$ days. Given this backdrop, let's delve deeper into the factors likely to have influenced ACDVF's second$-$quarter $2023$ performance. We expect upbeat air$-$travel demand to have boosted Air Canada's top$-$line performance in the to$-$be$-$reported quarter. High passenger revenues are likely to have aided the results. Driven by upbeat traffic, load factor $($percentage of seats filled by passengers$)$ isflikely to have been impressive in the June quarter. However, high fuel cost might have affected the bottom$-$line performance in the quarter under review. Even though fuel price has come down from the highs witnessed earlier, it still remains at an elevated level. Non$-$fuel unit costs are likely have been high in the quarter under discussion due to increased labor costs.RequiredIf you were a follower of Peter Lynch$,$ will you buy Air Canada or not? Yes or No and why in each case?Choose the appropriate option belowYes because it is a value stock and the price will appreciate within the next few months, in addition because the government will always bail Air Canada out if they run into financial problems.No$,$ because product is faddish, it has inconsistent earnings growth, the economy is heading towards recession and not sure when the share price will recover.No because Air Canada cannot benefit from cost reduction, the firm cannot compete against American airlines and because the Company lacks credible leadership.Yes because the company has a strong competitive edge over the other players in the Canadian air industry, there is market stability and Michael Rousseau the CEO has $166,805$ shares of Air Canada worth over $$3\mathrm{.}8$ million dollars.Next PagePage $4$ of $5$OLG