MONTREAL — Air Canada says earnings last quarter reached heights not seen since before the COVID-19 pandemic amid high travel demand and pricier fares, and despite thousands of flight delays.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYUnlimited online access to articles from across Canada with one account and fewer ads.
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Air Canada Posts Strong Quarterly Earnings Despite Flight DelaysAir Canada reported quarterly earnings that reached pre-pandemic levels, with net income of $838 million compared to a loss of $386 million the previous year. The airline attributed the strong earnings to high travel demand and higher ticket prices. Despite tens of thousands of flight delays, Air Canada saw over 11 million customers in the quarter. However, the company's operations failed to meet expected levels due to severe weather and global supply chain issues, resulting in consistently late or cancelled flights.
Source: globebusiness - 🏆 31. / 66 Read more »
Air Canada Posts Strong Quarterly Earnings Despite Flight DelaysAir Canada has reported quarterly earnings that have reached pre-pandemic levels, despite facing tens of thousands of flight delays. The airline recorded a net income of $838 million in the quarter ended June 30, compared to a loss of $386 million in the same period last year. The strong demand for travel and higher ticket prices contributed to the company's profitability. However, Air Canada's operations have been affected by consistent delays, with half of its flights arriving late or being cancelled. The CEO attributed these delays to severe weather and global supply chain issues.
Source: GlobalNational - 🏆 81. / 51 Read more »