TravelAir Canada posts quarterly profit versus year-ago loss, ET...

Air Canada posts quarterly profit versus year-ago loss, ET TravelWorld News, ET TravelWorld

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Air Canada reported a quarterly profit on Friday compared with a year-ago loss as Canada‘s largest airline cashed in on strong international travel demand.

A rush by North American travelers to make up for lost time during the pandemic has bolstered earnings for legacy carriers, with international destinations enjoying especially high demand.

Canada, which lifted all COVID-related restrictions last year, has seen a strong rebound in international leisure and corporate travel.

Jazeera posts KD 6.27 mn net profit for Q1 2023; set to expand fleet

Announcing its H1 2023 financial performance, Jazeera Airways has revealed a revenue surge of 26.1 per cent to KD 97.85 million, accompanied by operating profits of KD 9.35 million. The airline’s growth is attributed to a 40.9 per cent surge in passenger traffic. Jazeera is set to incorporate three more aircraft into its fleet by the financial year’s end.

The carrier posted a net profit of C$838 million (USD 622.77 million), or C$2.34 per share, for the quarter ended June 30, compared with a net loss of C$386 million, or C$1.60 per share, a year earlier. Profits have also benefited from a roughly 30% drop in jet fuel prices.

The Canadian company’s quarterly operating revenue rose 36% to C$5.43 billion.

  • Published On Aug 11, 2023 at 05:00 PM IST

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