Air Canada raises earnings outlook by $1 billion amid strong travel demand

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On May 4, the company raised expectations for its annual adjusted earnings before interest, taxes, depreciation and amortization to between $3.5 billion and $4 billion from the previous $2.5 billion and $3 billion.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.

Walter Spracklin, an analyst for Royal Bank of Canada, said demand and pricing after the summer will still be a concern for he airline, but he commended efforts management has taken to regain footing post-pandemic. “ is capitalizing on very solid near-team demand trends that is allowing the company to raise prices in excess of rising costs, while benefiting from the drop in fuel prices,” Spracklin wrote in a note to clients May 5.

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Air Canada boosts earnings outlook for 2023, citing strong demand and traffic - BNN BloombergAir Canada hiked its earnings outlook Thursday, saying it expects earnings to rise due to an improvement in traffic as well as stronger-than-anticipated demand and lower-than-expected fuel prices.
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Air Canada boosts earnings outlook for 2023, citing strong demand and trafficAir Canada posted a $1.7-billion loss in fiscal 2022, but reported a profit in the final quarter as the industry continued to claw its way back from the pandemic
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