AC:CC - Air Canada ups adj. EBITDA forecast to C$3.5B-C$4B as traffic and fuel prices improve

2023-05-04 18:08:56 ET

• Air Canada ( OTCQX:ACDVF ) ( TSX: AC:CA ) on Thursday said it is raising full-year 2023 adjusted EBITDA guidance to be in the C$3.5 billion to C$4 billion range, from prior expectations of around C$2.5 billion to C$3 billion.
• The largest Canadian airline said it revised adjusted EBITDA forecast due to improvement in traffic and yield from a stronger-than-anticipated demand environment and lower-than expected fuel price.
• The Montreal-based airline updated adjusted CASM to be about 0.5% to 2.5% below 2022 levels, from previous expectations of about 13% to 15% above 2019 levels, to reflect adjustments to various expense items including those resulting from the higher-than-expected traffic.
• The company said 2023 capacity outlook remains "substantially unchanged" at about 23% increase vs 2022, which translates to ~90% of 2019 levels.
• Press Release .

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