Air Canada bullish about business amid robust international demand

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Air Canada on Friday raised its annual core profit forecast and announced share buybacks, as the country's largest carrier benefits from strong demand for international travel.

An Air Canada plane taxies down the runway at the Ottawa International Airport on Oct. 3, 2024. Air Canada on Friday raised its annual core profit forecast and announced share buybacks, as the country's largest carrier benefits from strong demand for international travel.

Last month, Air Canada signed a new labour deal with its pilots, which would give the aviators a general four-year cumulative pay hike of about 42 per cent, generating about $1.9 billion in additional value. The carrier now expects its 2024 adjusted earnings before interest, taxes, depreciation and amortization of about $3.5 billion , compared with its previous forecast of $3.1 billion to $3.4 billion.

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Competition Bureau gets court orders against Air Canada, WestJet for market infoFILE PHOTO: An Air Canada plane taxis at Pearson International Airport in Toronto, Ontario, Canada May 16, 2022.
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