MONTREAL — Air Canada posted a $168-million profit in its most recent quarter as passenger and operating revenues reached record highs.
The Montreal-based airline says its fourth-quarter profit amounted to 41 cents per diluted share and compared with a loss of $493 million or $1.38 in the same period during 2021.
The airline says its profit for the period ended Dec. 31 included a foreign exchange gain of $316 million and covered the busy holiday season.
Its adjusted earnings totalled $389 million, an increase from $22 million in the fourth quarter of 2021.
Air Canada's passenger revenues hit $4.062 billion, doubling from the fourth quarter 2021 and about two per cent higher than the same period in 2019.
Operating revenues reached $4.680 billion, 71 per cent higher than the fourth quarter 2021 and about six per cent higher than the same quarter in 2019.
This report by The Canadian Press was first published Feb. 17, 2023.
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