Air Canada reports $1.165 billion loss in Q2, lower than in 2020
MONTREAL -- The COVID-19 pandemic continues to plague Air Canada's financial results in the second quarter of the 2021 fiscal year.
The airline reported Friday that it posted a net loss of $1.165 billion, or a loss per diluted share of $3.31, in the second quarter, which is lower than the previous year.
In the same period of fiscal 2020, Air Canada posted a net loss of $1.752 billion, or a loss per diluted share of $6.44.
The operating loss for the second quarter of this year was measured at $1.133 billion, compared to a loss of $1.555 billion last year.
Despite the most recent results, Air Canada President and CEO Michael Rousseau says he is pleased with the increase in vaccination rates and the further easing of travel restrictions in Canada.
The elimination of mandatory quarantine for fully vaccinated Canadians returning to Canada, as well as the lifting of other travel restrictions have resulted in a significant increase in bookings for Air Canada, he said, adding he expects this trend to continue.
-- This report by The Canadian Press was first published in French on July 23, 2021.