Air Canada recorded positive operating income for the third quarter of 2022, their first “in the black” operating income statement since the start of the pandemic, and officials say the company is on a “robust foundation.” Canada’s largest airline released its third quarter statement today, with a good deal of positive numbers. “We generated $644 million in operating income with a strong operating margin of 12.1%,” said Michael Rousseau, President and Chief Executive Officer of Air Canada. “This was the first quarter since the pandemic began in which we delivered positive operating income. “In addition, we achieved significant improvements in Read more
Michael Rousseau
They still lost nearly $400 million in the second quarter of the year, but Air Canada revenues soared almost five times higher than last year. Canada’s largest airline reported its finances for quarter two today and, despite recent difficulties, sounded an optimistic tone. Officials said the company lost $386 million in the quarter, but that revenues were $3.981 billion; nearly five times the second quarter of 2021. “The past three months have been very challenging for our company, our employees, and customers from an operational perspective,” said Michael Rousseau, President and Chief Executive Officer of Air Canada. “The path to Read more
Air Canada says it’s been forced to cut summer flights by about 15% to accommodate problems in the industry. In a letter sent to customers on June 29, the company said it apologizes for the inconveniences. “At Air Canada, we know how important travel plans are,” President and CEO Michael Rousseau said in a statement. “This is even more the case today when many are taking their first trip in years following the pandemic.” Air Canada officials said in statements to the media that roughly 154 flights will be cut per day, which is roughly 15% of their daily routes. Read more
Air Canada ticket sales for March of this year nearly reached pre-pandemic levels, one of the surest signs yet that the travel rebound is real. Canada’s largest airline released its first quarter results today. One of the key indicators is that ticket sales for March of 2022 were more than 90% of sales in March, 2019. Air Canada officials called that “a leading indicator to much stronger 2022 second and third quarter results.” For the quarter, Air Canada had operating revenues of $2.573 billion, more than triple that of the same quarter last year. The airline reported a first quarter Read more
Air Canada plans to fly at 90% of its pre-pandemic capacity this summer, CEO Michael Rousseau says. The Globe and Mail today reports that Rosseau spoke during an Air Canada webcast meeting of shareholders on Monday and said the airline would restore routes cut over the past two years and fly to 33 international destinations this summer. “It is apparent the recovery is accelerating,” he said. Air Canada on March 16 announced the return of daily service to Sydney and resumption of services to both Brisbane and Auckland. The Montreal-based airline in February announced an expansion of its North American Read more
