Air Canada reports fourth-quarter and full-year 2021 financial results

©Air Canada

Air Canada has reported its fourth-quarter and full-year 2021 financial results. The company reported fourth-quarter 2021 operating revenues of CA$2.731 billion, 30% higher than in the third quarter of 2021 and over three-times fourth-quarter 2020 operating revenues. Fourth-quarter 2021 operating loss of CA$503 million compared to an operating loss of CA$1.003 billion in the fourth-quarter of 2020. Fourth quarter 2021 EBITDA, excluding special items, of CA$22 million compared to negative EBITDA (excluding special items) of CA$728 million in the same quarter of 2020.

Air Canada reported full-year 2021 operating revenues of CA$6.400 billion compared to 2020 operating revenues of CA$5.833 billion, while recording cargo revenues in 2021 of CA$1.495 billion compared to 2020 cargo revenues of CA$920 million. Full-year 2021 operating loss of CA$3.049 billion compared to an operating loss of CA$3.776 billion in 2020. Full-year 2021 negative EBITDA (excluding special items) of US$1.464 billion compared to negative EBITDA (excluding special items) of CA$2.043 billion in 2020.

Unrestricted liquidity of US$10.4 billion on December 31, 2021, practically unchanged from September 30, 2021, excluding funds that were available on September 30, 2021, under the financial package with the Government of Canada.

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