The airline Air Canada appears to have gotten out of the red zone by returning to positive balance sheets since the last fiscal year 2023, after posting a net profit of $2.276 billion.
“Air Canada delivered outstanding results in the fourth quarter and fiscal year 2023, achieving its financial objectives and strategic priorities,” Air Canada President and CEO Michael Rousseau said in a news release Friday.
Adjusted net income for the prior year was $1.713 billion and adjusted earnings per diluted share was $4.56, compared to an adjusted net loss of $988 million and an adjusted loss per diluted share of $2.76. Dollar.
This performance also applies to the fourth quarter of the previous fiscal year, with net income of $184 million compared to $168 million a year ago.
In the same reported quarter, the airline reported an operating profit of $79 million, while earnings before interest, taxes, depreciation and amortization (EBITDA) rose $132 million to $521 million.
For the full fiscal year, Air Canada reported record operating revenue of $21.833 billion, a result attributed to strong demand for air travel in the same fiscal year.
“These results were possible thanks to effective management, the hard work of everyone at Air Canada and their customer-centric approach,” commented Mr. Rousseau, specifying that Air Canada transported more than 46 million passengers in 2023.