Air Canada issues Annual Report highlighting its achievements in 2023

03.04.2024 - 12:21 / traveldailynews.com / Air Canada / Vicky Karantzavelou / Airlines

Airline had record operating revenue, advanced strategic initiatives.

MONTREAL – Air Canada issued its 2023 Annual Report highlighting the carrier’s achievements for the year. In addition to its strong financial results, including record annual revenue, the airline made progress on key strategic initiatives.

“Air Canada delivered very strong results in 2023. We met key financial objectives and advanced or exceeded most of our strategic and operational goals for the year, demonstrating our ability to perform consistently,” said Michael Rousseau, President and Chief Executive Officer of Air Canada.

“We continued to renew our fleet with more fuel-efficient and comfortable aircraft, and we expanded our network and products to offer more choice and convenience to our customers. We also advanced our Environmental, Social and Governance programs through our sustainability, equity and accessibility activities and supported the communities we serve, including by providing thousands of employment opportunities.

“Air Canada has a solid foundation to build upon and a clear vision for the future as a leader in the global aviation industry, connecting Canada to the world, and as a trusted partner for all our stakeholders. I thank our customers for their loyalty, our 39,000 employees for their hard work and dedication to safe operations and our investors for their support throughout the year.”

Among its key accomplishments, in 2023 Air Canada:

* Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization), leverage ratio (also referred to as net debt to trailing 12-month adjusted EBITDA ratio) and free cash flow are referred to in this news release. Such measures are non-GAAP financial measures, non-GAAP ratios, or supplementary financial measures, are not recognized measures for financial statement presentation under GAAP, do not have standardized meanings, may not be comparable to similar measures presented by other entities and should not be considered a substitute for or superior to GAAP results. Refer to the “Non-GAAP Financial Measures” section of the news release dated February 16, 2024 or Air Canada’s public disclosure file for descriptions of these measures, and for a reconciliation of Air Canada non-GAAP measures used in this news release to the most comparable GAAP financial measure. 

Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.

She has many years of both academic and industrial