Air Canada Reports First Quarter 2026 Net Profit of $48 Million or $0.16 per Diluted Share
- Joe Breitfeller
- 3 hours ago
- 2 min read
Air Canada has reported a first quarter 2026 net profit of $48 million or $0.16 per diluted share on a year-over-year increase in revenue of 11.3 percent to $5.8 billion. At March 31, 2026, the carrier had total liquidity of $8.8 billion.
On Thursday (April 30, 2026), Air Canada reported their first quarter financial results for the period ending March 31, 2026. The carrier reported a first quarter net profit of $48 million or $0.16 per diluted share on a year-over-year increase in revenue of 11.3 percent to $5.8 billion. On an adjusted basis, the carrier reported a first quarter net loss of $16 million or ($0.05) per diluted share. Air Canada ended the period with $8.8 billion in liquidity, including $7.4 billion in cash, cash equivalents, and short and long-term investments, and $1.36 billion available under undrawn credit facilities.
In Thursday’s announcement, Air Canada’s President and CEO, Michael Rousseau, said,
“In the first quarter, Air Canada built on the momentum of our best-ever fourth quarter to launch strongly into 2026. We reported record operating revenues of $5.8 billion, up more than 11 per cent from the same period in 2025. Our operating income of $117 million was a positive $225 million swing from a year ago, and we generated record adjusted EBITDA of $623 million, up 61%. These results show the efficacy of our strategy and the dedication of our employees, whom I thank for their hard work.
“We are committed to maintaining a strong financial footing while delivering long-term shareholder value. During the quarter, we generated $1.8 billion in cash from operating activities, $1.6 billion in free cash flow and repurchased more than $140 million of our shares. This performance reflects our prudent approach to capital allocation and balance sheet management, allowing us to invest in the business, manage debt and return capital to shareholders while preserving financial flexibility.
“Supported by solid demand, our second quarter 2026 guidance reflects our expectation to offset between 50 per cent and 60 per cent of the estimated incremental fuel expense through various commercial and cost actions. We continue to see strong demand across the network and throughout the booking window for the latter half of the year. I believe Air Canada is very well positioned from a financial, fleet and network perspective. As evidenced by two consecutive record quarters, the airline is performing well and the team is consistently executing on our long‑term strategy.”
Air Canada is Canada’s largest domestic and international airline. The Canadian flag carrier is a founding member of the Star Alliance and holds a Four-Star ranking from Skytrax. Air Canada provides scheduled passenger service to 180 airports in Canada, the United States, and internationally on six continents. Through the carrier’s Aeroplan loyalty program, customers can earn and redeem points on the world’s largest airline partner network of 45 airlines. Air Canada Cargo offers air freight lift and connectivity to hundreds of destinations across six continents with a dedicated fleet of 767-300 Freighters and passenger aircraft belly hold capacity. Additionally, the airline has committed to a net zero emissions goal from all global operations by 2050.
Source: Air Canada / Globe Newswire
