MONTREAL — Air Canada is suspending its guidance for the full 2026 year as jet fuel prices remain volatile due to war in the Middle East, though it did offer an outlook for the second quarter.
The news comes as the Montreal-based airline reported net income of $48 million during the first quarter, compared with a net loss of $102 million during the same period last year.
That amounted to diluted earnings per share of 16 cents, compared with a diluted loss per share of 40 cents during the prior year quarter.
The airline says it delivered a record first-quarter operating revenue of $5.8 billion, up year-over-year from $5.2 billion.
Air Canada CEO Michael Rousseau says the company’s second-quarter guidance reflects an expectation to offset between 50 and 60 per cent of the estimated incremental fuel expense through commercial and cost actions.
The airline says it now expects adjusted earnings before deductions for the second quarter to come in between $575 million and $725 million.
