Air Canada (TSE:AC) has released an update.
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Air Canada has shown a solid financial performance in the first quarter of 2024, with operating revenues climbing to $5.2 billion, a 7% increase from the previous year, and adjusted EBITDA reaching $453 million. Despite a net loss of $81 million, the company touts a significant improvement in on-time arrivals and a strong balance sheet, underlined by a reduced leverage ratio of 0.9. With over $1 billion in free cash flow and a positive outlook for the year, Air Canada is poised for growth through strategic investments.
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