Air Canada posts $168M profit in latest quarter as passenger demand boosted revenues | Globalnews.ca
Air Canada posted a $168-million profit in its most recent quarter as passenger and operating revenues reached record highs.
The Montreal-based airline says its fourth-quarter profit amounted to 41 cents per diluted share and compared with a loss of $493 million or $1.38 in the same period during 2021.
The airline says its profit for the period ended Dec. 31 included a foreign exchange gain of $316 million and covered the busy holiday season.
Its adjusted earnings totalled $389 million, an increase from $22 million in the fourth quarter of 2021.
Air Canada’s passenger revenues hit $4.062 billion, doubling from the fourth quarter 2021 and about two per cent higher than the same period in 2019.
Operating revenues reached $4.680 billion, 71 per cent higher than the fourth quarter 2021 and about six per cent higher than the same quarter in 2019.
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