The Montreal-based airline said it now expects adjusted earnings before interest, taxes, depreciation and amortization for 2024 to be between $3.1 billion to $3.4 billion, down from its previous outlook of $3.7 billion to $4.2 billion. (The Logic)
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The Montreal-based airline said it now expects adjusted earnings before interest, taxes, depreciation and amortization for 2024 to be between $3.1 billion to $3.4 billion, down from its previous outlook of $3.7 billion to $4.2 billion. (The Logic)
Talking point: Air Canada said the lower outlook is largely driven by the lower yield environment, lower-than-expected load factors for the second half of 2024 and competitive pressures in international markets. It also blamed jet fuel prices, supply chain pressures and ongoing geopolitical issues. The airline’s share price, which has yet to come close to its pre-COVID-19 high of over $50, fell almost three per cent on Monday following the revised forecast. The company said demand nonetheless remains healthy, with load factors—a measure of how full planes are at takeoff—still above historical averages in the second quarter.
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