Air Canada Socked by $215 Million in Customer Comp in 2022
Photo Credit: An Air Canada Boeing 787-8 landing at the Frankfurt airport. Flickr / Oliver Holzbauer
Skift Take
Air Canada is confident that solid travel demand will lift its finances this year after a less than stellar end to 2022.
Air Canada expects "solid" demand through 2023 as it comes off a small operating loss last year driven, in part, by operational challenges over the year-end holiday period.
The Montreal-based carrier reported an operating loss of $139 million (C$187 million) for 2022 on Friday, with executives citing increased fuel expenses and weather disruptions as part of the challenge to fly back to profitability. Revenues were 87 percent of 2019 levels at $12.3 billion for 2022. Ticket sales in the fourth quarter surpassed pre-pandemic levels by 2 percent that was, in part, thanks to its stronger than expected performance by its loyalty program, Aeroplan.
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