The Canadian airline industry is about to have one less competitor, and Canadian consumers are scrambling. The news that Lynx Air will roll up its operations on 26FEB at 12:01 a.m. MT sent shock waves through the Canadian business world, and leaves Flair Airlines as Canada’s only ultra-low-cost carrier. The announcement came as Lynx said it had sought and obtained an initial order for creditor protection from the Court of King’s Bench of Alberta. In a news release, Calgary-based Lynx said a combination of factors, including high fuel costs and airport fees, has made it impossible for them to continue operating. Read more
Canadian business news
Air Canada says it’s encouraged by “strong increases” in key passenger markets in the third quarter. In a quarterly financial statement released today (Nov. 2), Canada’s largest airline reported operating revenues of $2.103 billion, representing almost three times the operating revenues of $757 million in the third quarter of 2020. Other highlights include Operating loss of $364 million, compared to an operating loss of $785 million in the third quarter of 2020 Negative EBITDA(1) (earnings before interest, taxes, depreciation, and amortization), excluding special items, of $67 million compared to negative EBITDA (excluding special items) of $554 million in the same Read more
