Air Canada reports $644M Q4 loss, operating revenue up from year ago

Air Canada reports loss

Photo: The Canadian Press

An Air Canada plane is moved to the runway at the Ottawa International Airport in Ottawa on Thursday, Oct. 3, 2024. 

Air Canada reported a fourth-quarter loss of $644 million, compared with a profit $184 million in the same quarter last year, as its operating revenue increased.

The airline says its loss amounted to $1.81 per diluted share for the quarter ended Dec. 31, compared with earnings of 41 cents per diluted share a year ago.

Operating revenue for the quarter totalled $5.4 billion, up from $5.2 billion in the same quarter last year.

On an adjusted basis, Air Canada says it earned 25 cents per diluted share, compared with an adjusted loss of 12 cents per diluted share in the same quarter last year.

Chief executive Michael Rousseau says the airline will "continue to navigate uncertainty and external pressures with prudence and decisiveness," noting Air Canada is prepared to "adapt promptly to any changes or challenges that may arise."

In its outlook, the airline says it expects its capacity measured by available seat miles for 2025 to be up three to five per cent from 2024.