Air Canada has stated in an investor update for the year that it plans to increase its full year 2022 ASM capacity by about 150% from 2021 levels (75% of 2019 ASM levels), and now expects adjusted cost per available seat mile (CASM) to increase about 13 to 15% when compared to 2019. For 2022, Air Canada expects an annual EBITDA margin of about 8 to 11%.
"With the pandemic receding and travel returning, Air Canada has put in place a strategy to return to profitability and increase long-term shareholder value. Our expectations for the long-term success of our airline give us confidence to set out key targets that will serve to drive continuous improvement within the company and provide transparency for investors to track our progress," said Michael Rousseau, President and Chief Executive Officer of Air Canada. "Central to our efforts will be our continuing emphasis on controlling costs while also making strategic investments, including those to advance ESG commitments, promote network growth, elevate the customer experience and heighten employee engagement. Through our focus on these priorities, propelled by our people and award-winning culture, we aim to command a highly competitive position emerging from the pandemic as a Canadian global champion.