The following is a summary of the Air Canada (ACDVF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Air Canada had operating revenue of over $5.2 billion in Q1, increasing by almost $340 million year-over-year.

• Adjusted EBITDA was $453 million, up $42 million.

• The company turned a profit of $11 million in operating income, a $28 million improvement from the prior year.

• The company's leverage ratio improved to 0.9 at the end of Q1, from 1.1 at the end of 2023 and 5.1 at the end of 2022.

• Their liquidity position at the quarter-end stood at $10 billion while generating free cash flow of over $1 billion for Q1, up from $987 million year over year.

Business Progress:

• Air Canada reported a system-wide on-time arrival rate that increased 13 percentage points from Q1 2023 suggesting operational efficiency.

• Passenger revenues increased by 9% year-over-year to over $4.44 billion.

• There were strong performances in the domestic and Pacific markets, with revenues from the latter almost up by 37%.

• The company plans to add more aircraft to their fleet, diversify their international network, and strengthen its balance sheet.

• Despite engine issues with the A220, the company remains optimistic about its long-term value and plan to negotiate a deal to add more aircraft to its collection.

More details: AIR CANADA IR

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