Air Canada has reported record fourth-quarter 2022 revenues of CA$4.062 billion which nearly doubled from the fourth quarter of 2021. Fourth- quarter operating revenues of CA$4.680 billion increased 71% from the fourth quarter of 2021.
Operating loss of CA$28 million, was significantly better than the operating loss of CA$503 million in the fourth quarter of 2021.
Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortisation) of CA$389 million, increased from adjusted EBITDA of CA$22 million in the fourth quarter of 2021.
Air Canada reported net income of CA$168 million, compared to a net loss of CA$493 million in the fourth quarter of 2021. Fourth-quarter 2022 net income included a foreign exchange gain of CA$316 million. The company posted an adjusted net loss of CA$217 million, compared to an adjusted net loss of CA$577 million in the fourth quarter of 2021.
For the full-year 2022 Air Canada reported an operating loss of CA$187 million significantly better than an operating loss of CA$3.049 billion in 2021.
Adjusted EBITDA was CA$1.457 billion, compared to negative adjusted EBITDA of $1.464 billion in 2021. The company posted a net loss of CA$1.700 billion, compared to a net loss of CA$3.602 billion in 2021. 2022 net loss included a foreign exchange loss of US$732 million. Adjusted net loss was CA$988 million, compared to an adjusted net loss of CA$3.768 billion in 2021.
Net cash flows from operations of CA$2.368 billion compared to net cash used in operations of CA$1.502 billion in 2021. (£1.00 = CA$1.62 at time of publication).
