Air Canada’s return to profits comes as industry sees surging demand — and rising prices, too — as airlines slowly add capacity.
There’s nothing like three years of being stuck at home to build an appetite for travel.
On Friday, Air Canada reported it had turned a $168-million profit in the fourth quarter. That’s compared with a $493-million loss in the same period a year earlier. Overall in 2022, Air Canada still racked up a $1.7-billion loss; still, demand has been strong enough lately that the airline also announced plans to boost capacity this year.
“The progress is a tribute to the deep resilience we have built into our company for long term stability,” Michael Rousseau, the carrier’s chief executive, said during a call with analysts. . So there’s still a lot of people who’ve been waiting to travel since before the pandemic,” Vanderlubbe said.veteran travel writer and editor Jim Byers“During the pandemic, people were staying home, they were buying Pelotons, they were buying dogs. I think people are spending more on themselves now. There’s a lot of budgetless travel, is what I’m hearing from agents,” said Byers.
Vanderlubbe agreed, saying trips to sunshine destinations are almost 20 per cent more expensive than they were pre-pandemic. It’s also harder and harder to find bargains when going to Europe, he added.
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