Air Canada adjusts earnings guidance upwards

Air Canada has revised its earnings guidance due  to what it said has been “an improvement in traffic and yield from a stronger-than-anticipated demand environment and lower-than expected fuel price”. The flag carrier said it expected adjusted EBIDTA for the year of between $3bn-4.5bn, up $1bn from what it published in February. The airline said it would  modify its baseline comparison for its 2023 adjusted cost per available seat mile guidance by using 2022 instead of 2019. “Given the new cost environment, prior comparisons to the 2019 baseline are no longer as meaningful, and comparisons to 2022 are more appropriate,”