Air Canada recorded a net loss of $386 million in the second quarter of 2022, or $1.60 per diluted share, compared to a loss of $1.165 billion, or $3.31 per diluted share, in the corresponding quarter last year. last year.
In the first quarter of 2022, the airline reported a net loss of $974 million, or $2.72 per diluted share.
Air Canada's latest financial results, released Tuesday morning, show the company has also reduced its operating loss. This stood at $253 million in the second quarter of the current fiscal year, compared to $1.133 billion in the second quarter of 2021.
According to Air Canada, this is “the lowest quarterly loss since the start of the pandemic”.
Michael Rousseau, president and CEO of Air Canada, said he was "satisfied" with the company's financial results despite a "very difficult" final quarter operationally.
“Across the globe, the sector is dealing with unprecedented conditions as it barely recovers from the impact of pandemic-related restrictions. The situation is particularly difficult in Canada, where we have gone from an air transport interruption of almost two years to then, in the space of only a few months, rebuilding our capacity to almost 80% of 2019 levels. said Mr. Rousseau.
“We entered the peak summer season with nearly 90% of our pre-pandemic workforce, while cautiously planning to operate approximately 80% of our pre-pandemic schedule during this period,” he added.
During the second quarter, Air Canada says it carried more than 9.1 million people, which is almost 8 million more than in the second quarter of 2021.
The airline also said it finalized a contract in July 2022 for the acquisition of two new Boeing 777 cargo planes, scheduled for delivery in 2024.