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Air Canada announces substantial y-o-y improvements

[ April 27, 2022   //   ]

Air Canada reports a substantial year-over-year improvement in its first quarter results.
“The year began with weakness brought on by the Omicron variant and travel restrictions. However, we quickly rebounded in March with passenger volumes exceeding the strong December levels and passenger ticket sales in March 2022 over 90% of March 2019 levels, a leading indicator to much stronger 2022 second and third quarter results,” said Michael Rousseau, President and Chief Executive Officer of Air Canada.
For the quarter, Air Canada had operating revenues of $2.573 billion, more than triple that of the same quarter in the prior year.
“In anticipation of our recovery, Air Canada has kept the course with key long-term projects to increase and diversify revenue and lower costs,” he said.
One such program is the expansion of Air Canada Cargo, with quarterly revenue up 42 per cent to $398 million from the first quarter of 2021, and now further expanded with the addition of two new Boeing 767-300 freighters to be delivered in 2022.
“I am thrilled that Air Canada Cargo continues to be one of the fastest growing cargo carriers year over year thanks to the strength of Air Canada’s global network and the addition of dedicated freighter capacity,” commented Jason Berry, Vice President, Air Canada Cargo. “With the aircraft that had been temporarily converted to carry cargo in the cabin returning to passenger service, we are happy to now have two converted B767-300BDSF freighters in operation. Along with an enhanced freighter schedule, this will allow Air Canada Cargo to connect more destinations with direct freighter capacity for our forwarding partners, whom I thank for their continued loyalty.”
The announcement is a further signal of Air Canada’s long-term commitment to freighters. These additional factory-built 767-300F aircraft will allow Air Canada Cargo to speed up the expansion of its freighter fleet, helping provide reliable, dedicated service to key cargo routes, further bolstering the capacity provided by Air Canada’s mainline fleet.
Its Boeing 767-300 freighters allow Air Canada Cargo to offer five different main deck configurations, increasing the overall cargo capacity of each aircraft to nearly 58 tonnes or 438 cubic meters, with approximately 75% of this capacity on the main deck.
The addition of freighter aircraft to Air Canada’s fleet allows Air Canada Cargo to provide consistent capacity on key air cargo routes, which will facilitate the movement of goods globally. The freighters also increase Air Canada Cargo’s capability to transport goods such as automotive and aerospace parts, oil and gas equipment, pharmaceuticals, perishables, as well as handling the growing demand for fast, reliable shipment of e-commerce goods.

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