Releasing Air Canada’s third-quarter results, the carrier’s president and chief executive, Michael Roussea, pointed to the fact that “Air Canada Cargo is consistently contributing to our results.”
In the third quarter of this year, Air Canada generated C$644m ($472m) in operating income, with a strong operating margin of 12.1%.
It was the first quarter since the pandemic began in which it recorded positive operating income. Plus, the Canadian flag-carrier achieved significant improvements in other areas compared to a year ago.
Operating revenues more than doubled to C$5.3bn (US$3.9bn), on a capacity growth of 130 percent.
More generally, Roussea advised: “Air Canada’s solid third quarter results stem from the ongoing restoration of our extensive network, an improved operational performance, our modern and efficient fleet, as well as leading products and services, and an incredible team of employees,”
The airline is building up and modernising its all-cargo fleet.
In August it announced an order for two factory-built Boeing B777Fs to enter into service in 2024.
The airline introduced one Boeing B767 freighter to its fleet in December 2021 and added a second B767 freighter in April 2022.
In the second quarter of 2022, Air Canada took delivery of two new B767 freighter aircraft, which are expected to enter service in 2023.
The carrier expects to have a fleet of seven B767 dedicated freighters by the end of 2023 and expects to add a further three B767 freighters in 2024 and 2025.
“We stand on a robust foundation and, with our most recent financial results, investments and strategic plan, are confident we have a bright future in connecting Canada and the world,” Rousseau declared.