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Air Canada Cuts Profit Outlook Amid Fierce Global Competition

Jul 22, 2024

  • Air Canada reduced its full-year profit forecast due to over-capacity and competition impacting ticket pricing.
  • The airline anticipates 2024 adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to be between C$3.1 billion and C$3.4 billion, lower than previously forecasted.
  • Preliminary second-quarter operating revenue increased by 6% from last year, though slightly below analyst expectations

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