Air Canada reports record quarterly passenger revenues but slight net loss

Air Canada has reported “record” fourth quarter (Q4 2022) passenger revenues of C$4.062bn, twice those of 2021 and “about two per cent higher” than Q4 2019. The annual operating loss of C$187 million was “significantly better” than an operating loss of over C$3 billion in 2021, the carrier said, but a net loss of C$1.7bn, or $4.75 per diluted share, which included a foreign exchange loss of C$732 million, was less of a rebound compared to a net loss of C$3.6bn in 2021. The carrier’s reported Q4 2022 operating expenses of C$4.7bn were up C$1.47bn on the same period the