The good times continue for Canada’s largest airline. With the pandemic firmly in the rear-view mirror, Air Canada today reported record operating revenues of $21.8 billion for last year, up 32% from 2022. Operating income was $2.3 billion, a $2.5 billion improvement from 2022. The company’s adjusted EBITDA (earnings before interest, taxes, deprecation and amortization) was nearly $4 billion; more than twice that of full year 2022. “Air Canada produced very strong results for the fourth quarter and full year 2023, delivering on its key financial goals and strategic priorities,” said Michael Rousseau, President and Chief Executive Officer of Air Canada. “These results stem from the Read more
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Air Transat and Porter Airlines are getting chummier by the day. Air Transat and Porter Airlines are extending their existing code-sharing agreement by creating a joint venture, transforming the current Canadian aviation competitive landscape. The alliance will help Toronto-based Porter and Montreal-based Transat better coordinate flight schedules and routes, which should benefit Canadian consumers and travellers. By combining both airlines’ complementary networks, this Alliance offers travellers significant benefits, officials said, including enhanced travel options across multiple regions. The Alliance expands services between North, Central and South America, Europe, North Africa, Mexico and the Caribbean, integrating Porter’s and Transat’s highly-complementary, Read more
Toronto Pearson Airport is nearly back to pre-pandemic traffic. The Greater Toronto Airports Authority (“GTAA”) today said passenger activity in the third quarter of the year was up 11.9% compared to the same period in 2022, rising from 11.2 million to 12.5 million. For the first nine months of 2023, passenger traffic rose 31.6% from 2022 levels, increasing to 33.8 million. Officials said passenger activity increased due to the strong travel demand and the travel industry partners’ ability to deliver more consistent levels of services following the pandemic, which created labour and supply challenges. During the third quarter and first nine Read more
WestJet says it is profitable once again, and is re-committing to providing customers with affordable air travel. WestJet CEO, Alexis von Hoensbroech, today addressed key stakeholders and community members at the Toronto Region Board of Trade. In his address, von Hoensbroech shed light on the airlines’ recent accomplishments and shared insights into its strategic outlook and plans to drive the Group’s growth strategy as Canada’s leading low-cost airline. After a challenging three years due to the COVID-19 pandemic, the WestJet Group has surpassed its pre-pandemic capacity levels and returned to profitability, setting the airline up for success as it continues Read more
Tourism Australia’s unveiled Down Under visitation numbers at the Australia Marketplace North America event in Los Angeles this week. And Canada is kicking some serious rear end. In May 2023, Canadian arrivals in Australia reached 94% of 2019 levels, while the United States was at 75%. For the 12-month period ending in May 2023, Canadian arrivals were at 74% of pre-pandemic levels, while the U.S. was at 66%. Canadian visitor spending has reached 92% of 2019 levels, while the U.S. is at 78%, said Chris Allison, Vice President, The Americas, Tourism Australia. He wouldn’t quite say that Canada is pushing Read more
