Air Canada (AC) reported a net loss of $217 million, or $0.61 per share, for the fourth and final quarter of 2022.
The latest loss was better than the net loss of $577 million, or C$1.61 per share, reported by the Montreal-based airline a year ago.
The carrier's quarterly operating revenue rose nearly 71% to $4.68 billion.
Air Canada said its quarterly loss improved due to strong holiday travel and a rebound in the number of people booking flights across the country and internationally.
The Government of Canada eased all COVID-19 restrictions for air travellers last fall.
Air Canada said it expected its 2023 capacity to increase by about 24% from 2022 levels.
The company’s stock has fallen 6% in the last year to trade at $23.15 per share.
