Air Canada raises core profit forecast on robust international demand

By Shivansh Tiwary and Allison Lampert

(Reuters) -Air Canada 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% in morning Toronto trading.

Major North American carriers with international operations are cashing in on booming demand for overseas travel and improved business bookings.

Air Canada is increasing its flights to China, while also adding capacity to other Asia-Pacific routes, even as it saw some pressure on transatlantic travel, the airline said.

Mark Galardo, Air Canada’s executive vice president for revenue and network planning, said the carrier is seeing early indications…