The airline Air Canada suffered a news in the first quarter of 2022, but its operating income more than tripled compared to the same period of 2021, a sign of an acceleration of the recovery, according to the company.
Air Canada suffered a net loss of 974 million Canadian dollars (714 million euros) in the first quarter of 2022, less significant, however, than that observed in the same period last year.
“Travellers are returning, revenues are growing, our networks are recovering and our finances, including our liquidity, are very strong,” said Michael Rousseau, CEO of Air Canada, presenting the financial results for the first three months of the year. year. During this quarter, the carrier’s operating revenue was C$2.573 billion, about three and a half times more than in the first quarter of 2021.
“The significant improvement in Air Canada’s year-over-year results in the first quarter is tangible proof that a recovery is underway,” said the leader. Like other airlines, Air Canada – headquartered in Montreal – saw a slowdown in business at the start of the year due to Covid-19 and travel restrictions.
Rebound in March
The carrier notes, however, that its results “rebounded quickly in March” after the lifting of health measures, including the lifting of the obligation to present the negative result of a PCR test on arrival in Canada for foreign travellers. Air Canada, which recorded higher passenger volumes in March than in December and sales that “reached more than 90% of their March 2019 level”, expects its recovery to accelerate further “by the end of end of 2022 and beyond” with an increase in travel after two years of restriction in the world.
The airline embarked on a program this month to facilitate the air transport of Ukrainians fleeing the war to Canada. “We are doing our part by helping to transport Ukrainians to Canada with a substantial donation of 100 million Aeroplan points,” the company said in a statement. These points should make it possible to transport up to 10,000 people to Canada as quickly as possible.