Air Canada Reports Second Quarter 2025 Net Profit of $186 Million or $0.51 per Diluted Share

Air Canada has reported a second quarter 2025 net profit of $186 million or $0.51 per diluted share on a year-over-year increase in revenue of 2.0 percent to $5.63 billion.  At June 30, 2025, the carrier had liquidity totaling $8.36 billion.

Air Canada Boeing 777-300ER - Courtesy Air Canada

On Monday (July 28, 2025), Air Canada reported their second quarter financial results for the period ending June 30, 2025.  The carrier reported a second quarter net profit of $186 million or $0.51 per diluted share on a year-over-year increase in revenue of 2.0 percent to $5.63 billion.  Air Canada’s second quarter total revenue per available seat mile (TRASM) decreased 0.5 percent versus the same period last year to 21.0 cents, while cost per available seat mile (CASM) increased 0.6 percent to 19.4 cents.  Costs excluding fuel and other special items (CASM-ex) was up 6.4 percent compared to Q2 2024 to 14.4 cents.  At June 30, 2025, Air Canada had $8.36 billion in total liquidity, including $7.0 billion in cash, cash equivalents, and short and long-term investments, as well as $1.33 billion available in undrawn credit facilities. 

In Monday’s announcement, Air Canada’s President and CEO, Michael Rousseau, said,

“Air Canada’s second quarter 2025 results showcase the airline’s many strengths in the face of a challenging environment.  We generated operating revenues exceeding $5.6 billion, up $113 million from the previous year.  Operating income was $418 million, with an operating margin of 7.4%, and adjusted EBITDA was $909 million, with an adjusted EBITDA margin of 16.1%. Operationally, we had an excellent spring, leading all major North American carriers in on-time performance for both May and June, which corresponded with strong gains in customer service scores.  We remained disciplined and consistent in executing on a long-term plan that is rooted in Air Canada’s proven commercial strategy, while navigating macroeconomic uncertainty and geopolitical tensions.  We have strategically redirected capacity to high-demand markets and captured demand for premium services, leveraging the breadth and strength of our global network.  Our results were further lifted by strong performances by Air Canada Cargo, Air Canada Vacations, and Aeroplan—each a key pillar of our diversified business.”

“Our distinctive product offerings and the unwavering dedication of our employees were recognized at the Skytrax World Airline Awards.  We are proud to have been recognized as the Best Airline in North America and as the sole North American carrier ranked among the global top 20.  Additionally, we have received additional accolades, including Best Cabin Crew in both Canada and North America.  I extend my heartfelt thanks to our employees for their commitment to excellence and professionalism in safely transporting our 11.6 million customers this quarter with care and class.”

“A key pillar of our strategy is delivering value to our shareholders through effective capital allocation programs.  Building on the successful reinstatement in 2024 of our normal course share purchase program, we completed a $500 million substantial issuer bid during the quarter, purchasing 26.6 million shares for cancellation.  Since then, we have also fully repaid our convertible notes in cash upon maturity in July.  As we look ahead, we are excited about our upcoming fleet additions and the opportunities they will unlock.  Our confidence in our business outlook remains solid and we are reaffirming our financial guidance for the full year 2025.”

Air Canada's Second Quarter 2025 Financial Highlights - Courtesy Air Canada/CNW

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/CNW