Air Canada can proudly add itself to the list of Canadian companies — ones that exist in oligopolies with
, of course — that is still making enraging amounts of money despite constant customer complaints and public backlash., taking in an astonishing $5.4 billion in revenue and earning $838 million after expenses and interest.This marks a ginormous 36 per cent increase in earnings in Q2 2023 compared to Q2 2022, and a $1.2 billion jump in net income compared to the same time last year, when COVID restrictions hit the travel sector hard and resulted in huge losses.
Executives attribute the results to the return of a strong demand for travel, with more than 11 milion people flying with Air Canada in the last quarter alone.announcing the news that their success"shows the effectiveness of our plan," presumably one to improve business and bounce back from the pandemic .employees is its shareholders, not its customers.
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Air Canada Reports Strong Earnings Despite Flight DelaysAir Canada announces that its earnings in the last quarter have reached pre-pandemic levels due to high travel demand and higher fares, despite facing numerous flight delays.
Source: calgarysun - 🏆 63. / 52 Read more »
Air Canada Posts Strong Quarterly Earnings Despite Flight DelaysAir Canada reported quarterly earnings that reached pre-pandemic levels, with net income of $838 million compared to a loss of $386 million the previous year. The airline attributed the strong earnings to high travel demand and higher ticket prices. Despite tens of thousands of flight delays, Air Canada saw over 11 million customers in the quarter. However, the company's operations failed to meet expected levels due to severe weather and global supply chain issues, resulting in consistently late or cancelled flights.
Source: globebusiness - 🏆 31. / 66 Read more »
Air Canada Posts Strong Quarterly Earnings Despite Flight DelaysAir Canada has reported quarterly earnings that have reached pre-pandemic levels, despite facing tens of thousands of flight delays. The airline recorded a net income of $838 million in the quarter ended June 30, compared to a loss of $386 million in the same period last year. The strong demand for travel and higher ticket prices contributed to the company's profitability. However, Air Canada's operations have been affected by consistent delays, with half of its flights arriving late or being cancelled. The CEO attributed these delays to severe weather and global supply chain issues.
Source: GlobalNational - 🏆 81. / 51 Read more »