© Reuters. FILE PHOTO: Air Canada planes are parked at Toronto Pearson Airport in Mississauga, Ontario, Canada April 28, 2021. REUTERS/Carlos Osorio
(Reuters) -Air Canada on Friday reported a narrower quarterly loss as it flew more people, helped by strong holiday travel demand.
Canada, which eased all COVID restrictions for passengers in the fall of 2022, has seen a strong rebound in travel, driving demand for international flights.
With travel demand holding strong, the carrier said it expected its 2023 capacity to increase by about 24% from a year earlier.
“We expect a solid demand environment in 2023,” Chief Executive Officer Michael Rousseau said.
Air Canada’s fourth-quarter adjusted net loss came in at C$217 million, or 61 Canadian cents per share, compared with an adjusted loss of C$577 million, or C$1.61 per share, a year earlier.
The Canadian carrier’s quarterly operating revenue rose nearly 71% to C$4.68 billion ($3.46 billion).
($1 = 1.3515 Canadian dollars)