Air Canada posted its Q4 and full year results for 2024 on February 13, 2025, detailing record annual revenues of C$22.3 billion (US$15.7 billion). 

The Canadian flag carrier managed to achieve these positive figures while increasing its capacity by 5% over the preceding year and carrying 47 million passengers throughout the year. However, it also registered an erosion of 4.7 percentage points from its profit margins, which went down to 5.7%. This is in great part due to the year-on-year 7% increase in operating expenses outstripping the 2% revenue growth.  

In this regard, Air Canada was impacted by a C$490 million (US% 354 million) one-time charge in Q4 2024, relating to a new collective agreement it reached in September 2024 with its pilots and their trade union, the Air Line Pilots Association, International (ALPA). 

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