Air Canada reports $81M Q1 loss, operating revenue up seven per cent from year ago

By The Canadian Press on May 2, 2024.

MONTREAL – Air Canada reported a loss of $81 million in its first-quarter as its operating revenue rose seven per cent from a year ago.

The airline says the loss amounted to 22 cents per diluted share for the quarter ended March 31.

The result compared with a profit of $4 million in the same quarter last year when it also reported a loss of three cents per diluted share.

Operating revenue totalled $5.23 billion, up from $4.89 billion in its first quarter of 2023.

On an adjusted basis, Air Canada says it lost 27 cents per diluted share in its latest quarter compared with an adjusted loss of 53 cents per diluted share in the same quarter last year.

In its outlook, the airline says it plans to increase its capacity measured by available seat miles in the second quarter of this year by about seven per cent compared with a year ago.

This report by The Canadian Press was first published May 2, 2024.

Companies in this story: (TSX:AC)

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