Air Canada now expects its 2024 adjusted earnings before interest, taxes, depreciation and amortization of about $3.5-billion, compared with its previous forecast of $3.1-billion to $3.4-billion
on Friday raised its annual core profit forecast and announced share buybacks, as the country’s largest carrier benefits from strong demand for international travel, sending its shares up over 10 per cent in morning Toronto trading.
Mark Galardo, Air Canada’s executive vice president for revenue and network planning, said the carrier is seeing early indications that transatlantic business will bounce back in 2025. Air Canada is now monitoring how a weeks-long strike by more than 33,000 factory workers and a production crisis at U.S. plane maker Boeing would affect deliveries of the carrier’s remaining 12 737 Max aircraft, Chief Financial Officer John Di Bert told analysts. Some deliveries are expected in 2025.
The carrier now expects its 2024 adjusted earnings before interest, taxes, depreciation and amortization of about $3.5-billion, compared with its previous forecast of $3.1-billion to $3.4-billion.
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