Continued travel losses put crimp to Air Canada’s first quarter

Canada reported a loss of $1.3 billion in its first quarter compared with a loss of $1 billion in the same quarter last year as the pandemic continued to limit travel.

The airline says the loss amounted to $3.90 per diluted share for the quarter that ended March 31 compared with a loss of $4.00 per diluted share a year ago when it had fewer shares outstanding.

Revenue in the quarter totalled $729 million, down from $3.7 billion in the first three months of 2020.

Air Canada says its capacity as measured in available seat miles was down 82.1 per cent compared with a year ago.