Air Canada reports sky-high Q1 revenue, more than double last year

May 12 2023, 2:30 pm

In the first quarter of 2023, Air Canada passenger revenues reached a record-breaking $4.088 billion.

This is more than double last year’s first-quarter revenue, aided by increased demand. 

The global easing of COVID-19 restrictions has supported higher travel demand. Record passenger revenues indicate that Canada’s largest airline is recovering quite well from the pandemic.

The airline has increased its operated capacity by 53% since the first quarter of 2022. 

According to Air Canada’s president and CEO, Michael Rousseau, the airline’s first-quarter financial results exceeded internal and external expectations.

Rousseau says he expects demand to persist, supported by strong advance bookings for the remainder of the year.

“Air Canada’s impressive first quarter performance reflects the strength of our brand, the very strong demand environment across all markets and the effective execution of our strategic plan,” Rousseau said. 

The airline also reported an operating loss of $17 million in the first quarter of 2023, an improvement from the operating loss of $550 million in the first quarter of 2022.

Despite high revenues and being rated one of Canada’s best carriers in 2023, Air Canada has been consistently criticized for its service.

The latest post on Air Canada’s Instagram page is also flooded with comments about service being dismal.

The top comment on the following commercial, posted three days ago, rips the airline to shreds.

 

View this post on Instagram

 

A post shared by Air Canada (@aircanada)

“Can we discuss how inaccurate this commercial is?” asked Instagram user @mymtrep, adding bullet points to show their experience flying with Air Canada.

“(1) your luggage will most definitely not show up with you. (2) You are likely going to be delayed or re-routed for two days in a random city, or they may cancel your flight altogether. (3) The TV screens are from 1990, and I think still run on Linux’s original version. The fact that they advertise this while a video about how bad their screens are is circulating on the internet just shows me how disconnected this company is with its reality (4) You won’t get full points unless you purchase a flex rate (basic gives you 10 to 25% only). So I’d say you’d get LESS when flying AC.”

Will you be travelling in 2023? Let us know in the comments. 

Harry LinleyHarry Linley

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