Air Canada looking toward slow, steady recovery

More than a year into the Covid-19 pandemic, many airlines have returned to operating bolstered schedules with flights filled with passengers once again. Airports have been busy and airlines have ramped up flight schedules and opened up recruitment drives as air travel returns to a new, yet familiar normal. The return of air travel might have been slower than initially predicted, but it has brought back much-needed earnings for several airlines as their numbers begin to improve quarter over quarter. Air Canada reported its Q2 financial results on July 23, showcasing better earnings than in recent quarters amidst big losses, as restrictions began to ease and demand for air travel is slowly returning. In the report, the airline announced improved operating revenues of $837m, which is an increase of 59% from Q2 2020. However, operating losses were still at a massive $1.13b, but considered an improvement when compared to $1.56b in Q2 2020. “The Covid-19 pandemic continued to weigh on Air Canada and the Canadian airline industry in the second quarter, with its impact on travel reflected in our results,” Air Canada President and CEO Michael Rousseau said. Despite passenger bookings being lower than pre-pandemic levels, the national carrier is anticipating demand for air travel to rise again in the next few months.<br/>