Air Canada reported first-quarter revenue nearly doubled compared with a year earlier as travellers hopped back on airplanes en masse — even as higher costs tamped down net earnings.
Buoyed by a record $4.9 billion in revenue, the quarter marked the second in a row where the carrier has turned a profit following 11 straight quarters of losses totalling $10.1 billion.
Net income amounted to $4 million, up from $974 million in losses a year ago.
Chief executive Michael Rousseau said the results for the three months ended March 31 beat out all expectations, and that he believes demand will persist amid strong
