Air Canada reported net income of $4 million, a dramatic improvement from a massive loss of $974 million a year earlier. Find out more.
“As we look to strong advanced bookings for the remainder of the year, we expect demand to persist,” Air Canada chief executive Michael Rousseau said on a call with analysts.
Air Canada shares were little changed after it updated its financials, as the stock was hovering around $21.40 per share, down from about $50 per share on the eve of the pandemic. Air Canada last week Walter Spracklin, an analyst for Royal Bank of Canada, said the updated 2023 guidance highlights the decline in fuel prices that was creating a windfall impact on earnings, as the company continued to hold the line on pricing amid a strong demand backdrop.
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