Air Canada - statistics & facts
Air Canada is the licensed national flag carrier of Canada, authorized to provide both scheduled and unscheduled international or domestic charter air transportation for passengers and cargo across the globe. Air Canada was founded in 1937 and was originally known as Trans-Canadian Airlines (TCA) until it was renamed in 1965. The Canadian government privatized the airline in 1988, and it has since grown to accumulate total assets amounting to over 29.5 billion Canadian dollars as of 2022, with around 30,500 employees.
Nevertheless, Air Canada, as well as the global aviation industry, continues to face various challenges, which introduce a considerable degree of uncertainty to the industry's overall trajectory. In particular, spiked jet fuel prices are currently one of the main concerns of the worldwide aviation industry. As of 2023, the average fuel cost of Air Canada was at the second highest price in the last ten years, amounting to 111.6 Canadian cents for each liter of fuel. Global economic uncertainties and their consequences such as the Russia-Ukraine war, contributing to rising energy and jet fuel prices.
Air Canada's financial performance
During the fiscal year of 2023, Air Canada accumulated operating expenses of around 19.6 billion Canadian dollars and revenue passenger miles that amounted to 85.8 billion. Moreover, Air Canada's passenger load factor stood at nearly 87 percent, with the number of passengers increasing to 44.8 million. These figures showed a strong rebound for the company after nearly two years of shutdown due to the coronavirus pandemic.Nevertheless, Air Canada, as well as the global aviation industry, continues to face various challenges, which introduce a considerable degree of uncertainty to the industry's overall trajectory. In particular, spiked jet fuel prices are currently one of the main concerns of the worldwide aviation industry. As of 2023, the average fuel cost of Air Canada was at the second highest price in the last ten years, amounting to 111.6 Canadian cents for each liter of fuel. Global economic uncertainties and their consequences such as the Russia-Ukraine war, contributing to rising energy and jet fuel prices.
