Air Canada reported its first-quarter revenue nearly doubled compared with a year ago, boosted by strong demand.
MONTREAL - Air Canada reported first-quarter revenue nearly doubled compared with a year earlier as travellers hopped back on airplanes en masse — even as higher costs tamped down net earnings.
“The strong and improving collaboration between our people and our ecosystem partners has been key to our service delivery during this period, and sets our expectation for continued strong performance through the summer.” Chief financial officer Amos Kazzaz, slated to step down on June 30, noted that “the cost world is different” than before 2020, with everything from airplane food to ground handlers toting a higher price tag.
On a per diluted per share basis, Air Canada reported a loss of three cents due to an adjustment related to the assumed conversion of convertible notes compared with a loss of $2.72 per diluted share in the same quarter last year.
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