Air Canada (AC) swung to a profit in this year’s second quarter from a loss a year earlier as
both domestic and international travel continues to recover from the Covid-19 pandemic.
Canada’s flagship carrier reported net income, or profit, of $838 million, or $2.34 per share, for the quarter ended June 30.
That was up from a net loss of $386 million, or $1.60 per share, a year earlier.
The Montreal-based company’s Q2 revenue rose 36% to $5.43 billion as more people to took to the skies heading into the busy summer travel season.
Air Canada added that its Q2 profits also got a boost from a 30% decline in jet fuel prices, and added that flights to international destinations have been particularly strong this year.
The stock of Air Canada has increased 22% over the last 12 months to trade at $22.86 per share.
