© Reuters.
Air Canada (AC.TO) has announced a robust financial performance for the fourth quarter and the full year of 2023, with record operating revenue and a significant increase in adjusted EBITDA. The fourth quarter saw operating revenue of $5.2 billion, an 11% rise from the previous year, while the full year revenue soared to $21.8 billion, marking a 32% increase. Adjusted EBITDA for the same periods registered at $521 million and nearly $4 billion, respectively.
Operational efficiency also improved, with the airline reporting better flight completion, baggage handling, and on-time arrivals. Looking ahead, Air Canada plans to boost capacity by 6-8% in 2024, with a keen focus on international services, especially in the Pacific region. The company has also made strides in debt reduction and liquidity improvement, ending the year with $10.3 billion in total liquidity and a leverage ratio of 1.1x EBITDA.
Key Takeaways
- Q4 operating revenue reached $5.2 billion, an 11%…
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