Air Canada reports first quarter 2021 results

Air Canada has reported first quarter 2021 operating revenues of $729 million, a decline of $2.993 billion or 80% compared to the first quarter of 2020, and an operating loss of $1.049 billion compared to an operating loss of $433 million in the first quarter of 2020. Air Canada’s net cash burn is $1.274 billion, or approximately $14 million per day, on average. The airline’s unrestricted liquidity amounted to $6.582 billion at March 31, 2021. “During the quarter, Air Canada’s cash burn rate progressively improved, albeit moderately given the ongoing impact of the pandemic on advance ticket sales,” said Michael