The travel agency Air Canada has more than tripled its revenue last quarter as the demand for travel is increasing. However, the net loss of nearly $1 billion showed the pandemic recovery is far from complete. After the Omicron variant slowed travel in January, the airline’s sales eventually spiked in March, pushing bookings to 90 per cent of 2019 levels.
The CEO Michael Rousseau said “we are very positive on the rest of the year and continued growth over the next several years,” Air Canada’s capacity still continues to lag U.S. airline as business travel remains at half the volume it did three years ago, said chief commercial officer Lucie Guillemette.
The travel agency looks to take advantage of a renewed appetite for corporate travel in the United States. But with rising fuel costs, and inflation the industry still has some strong headwinds ahead.
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