Strong demand for international travel has led Air Canada to raise its annual core profit forecast.
Sharing its Q3 results on Friday (Nov. 1), the airline now expects its 2024 adjusted earnings before interest, taxes, depreciation and amortization of about $3.5 billion, compared with its previous forecast of $3.1 billion to $3.4 billion.
Air Canada’s profit rose to $2.04 billion, or $5.38 per share, from $1.25-billion, or $3.08 per share, last year.
“Summer is our peak season and this year our pilot contract negotiations added complexity,” said Michael Rousseau, president and CEO of Air Canada, in a statement. “We proactively offered options and flexibility to customers, and I am proud that we concluded a mutually…