Air Canada announced record first-quarter operating revenues on Thursday, driven by sustained strong travel demand. The airline reported $5.8 billion in operating revenues, an 11.3% increase compared to the same period last year.
Financial Highlights
Adjusted EBITDA for the first quarter reached $623 million, also a record for that period. The company posted an operating income of $117 million, net income of $48 million, and diluted earnings per share of $0.16. On an adjusted basis, Air Canada recorded a net loss of $16 million and an adjusted loss per diluted share of $0.05, a $134 million improvement from the net loss of $150 million in the first quarter of 2025.
CEO Comments
“In the first quarter, Air Canada built on the momentum of our best-ever fourth quarter to launch strongly into 2026,” said Chief Executive Michael Rousseau. “We continue to see strong demand across the network and throughout the booking window for the latter half of the year.” Rousseau emphasized that the airline is performing well, as evidenced by two consecutive record quarters.
Guidance Suspension
Despite solid and resilient demand amid elevated geopolitical instability, Air Canada has suspended its full-year 2026 financial guidance due to ongoing volatility in jet fuel prices. The airline noted that demand remains robust, but the uncertainty surrounding fuel costs prompted the decision to withdraw the forecast.
More details are expected to follow as the company provides further updates on its outlook.
