Air Canada becomes profitable again, focusing on North America

Air Canada has returned to profitability in 2024, reporting $22.3 billion in revenue, a 2% increase from 2023. The airline's net income was $1.3 billion, recovering from pandemic losses but still below its pre-pandemic profit of $1.1 billion in 2019. The airline's seat capacity grew by 4.1% year-on-year, carrying 57.2 million seats. However, it remains 13% below pre-pandemic levels. International airfares dropped significantly, with average prices falling from $1,104 to $949 due to increased competition. Air Canada's domestic airfares remained stable at $694, significantly higher than the average U.S. fare of $382. The airline's focus remains on the North American market, which accounted for 86% of its capacity in 2024.