On Friday, Canada’s largest airline, Air Canada (AC.TO), posted a reduced adjusted quarterly deficit due to strong travel demand.
Despite rising airfares and financial constraints due to high inflation, major airlines are seeing the highest travel demand since the COVID-19 epidemic.
Last year, Canada abolished all COVID-19 limitations, boosting international leisure and corporate travel.
The carrier lost C$188 million, or C$0.53 per share, in the quarter ended March 31, down from C$747 million, or C$2.09 per share, a year earlier.
Due to limited capacity and a move from products to services, North American airlines are optimistic about filling seats.
This month, the Montreal-based airline upped its full-year core profit projection, citing lower fuel prices and more demand.
Canadian airline quarterly operating revenue quadrupled to C$4.89 billion ($3.66 billion).
