Air Canada posted record revenue of $22.3B in 2024, with strong earnings, a 5% capacity increase, and 47M passengers transported. CEO Rousseau remains optimistic.
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| Air Canada ended 2024 with record revenue, strong earnings, and fleet investments, positioning itself for continued success in 2025 despite industry challenges. Image/ Illustration: ChicHue |
Ottawa, Canada — February 14, 2025:
Air Canada has announced its financial results for the fourth quarter and full year of 2024, highlighting record annual revenues of $22.3 billion—a 5% increase in capacity over 2023.
"Air Canada executed its plan effectively, adjusting as needed to achieve nearly $3.6 billion in adjusted EBITDA and $1.3 billion in free cash flow," said Michael Rousseau, President and CEO. "We also repurchased over 20 million shares in 2024 and an additional 15 million in early 2025, completing the share buyback program announced in November. Most importantly, we safely transported approximately 47 million passengers, thanks to the dedication of our employees."
Rousseau emphasized the airline’s adaptability, noting its ability to adjust to market conditions and optimize its network throughout the year. He highlighted the successful negotiation of a new pilot contract with minimal disruption and operational improvements, including an eight-point increase in on-time performance over 2023. Investments in fleet, product, technology, and airport infrastructure also contributed to an enhanced customer experience.
Looking ahead, Air Canada remains confident in its competitive strengths, including its premium offerings and global reach. "With a solid year behind us, we are well-positioned to navigate uncertainty and external pressures with prudence and decisiveness," Rousseau said. "The demand environment remains strong, and we are ready to adapt swiftly to industry changes and challenges."