Air Canada reports bigger loss than market expectations as costs rise

-Air Canada reported a bigger first-quarter loss than market expectations on Thursday, as higher operating costs tied to labor and aircraft maintenance dampened gains from a rebound in business travel.

Operating expenses rose 6% to C$5.22 billion , the airline said even as it benefited from a resurgence in big spending by corporate customers who have been largely absent from the post-pandemic travel boom. Canada's largest carrier reported a first-quarter adjusted loss of C$0.27 per share, compared with analysts' average estimates of a C$0.07 loss, according to LSEG data.1 Magnificent Dividend Stock That’s Down 21% and Trading at a Once-in-a-Decade Valuation

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