Reported 25 days ago
Air Canada has raised its annual core profit forecast and announced share buybacks, driven by robust international travel demand. The airline is expanding flights to China and other Asia-Pacific destinations while expecting a rebound in transatlantic travel by 2025. Despite prior soft bookings due to labor negotiations, the airline reported better-than-expected quarterly earnings and is monitoring a strike affecting deliveries of its remaining aircraft. This marks the first share repurchase authorization since the pandemic, aimed at countering dilution from past financing needs.
Source: YAHOO