Air Canada (AC) reported a first-quarter loss of $974 million compared with a loss of $1.30
billion a year earlier.
Air Canada said its Q1 revenue more than tripled from a year earlier as the carrier continues to
recover from the global pandemic.
In a news release, Air Canada said its year got off to a difficult start in the first quarter due to the
Omicron variant and travel restrictions but rebounded in March with passenger volumes topping
December holiday levels and ticket sales in the month more than 90% of pre-pandemic 2019
levels.
The airline said its loss for the three months ended March 31 totalled $2.72 per share,
compared with a loss of $3.90 a share in the first quarter of 2021. Revenue totalled $2.57 billion,
compared with $729 million in the first three months of last year.
Air Canada stock is up 9% year to date at $24.22 per share.
