Air Canada annual report highlights successes in 2023

Air Canada has issued its 2023 Annual Report highlighting the carrier’s achievements for the year.

In addition to its strong financial results, including record annual revenue, the airline made progress on key strategic initiatives, including fleet renewal, network and product expansion and new employment opportunities.

“Air Canada delivered very strong results in 2023. We met key financial objectives and advanced or exceeded most of our strategic and operational goals for the year, demonstrating our ability to perform consistently,” said Michael Rousseau, president and CEO of Air Canada. “Air Canada has a solid foundation to build upon and a clear vision for the future as a leader in the global aviation industry, connecting Canada to the world, and as a trusted partner for all our stakeholders. I thank our customers for their loyalty, our 39,000 employees for their hard work and dedication to safe operations and our investors for their support throughout the year.”

Key accomplishments for 2023

Among its key accomplishments, in 2023 Air Canada:

• Safely carried 46 million passengers and earned full year operating income of $2.3 billion on record operating revenue of $21.8 billion.
• Launched 14 new routes to serve 188 direct destinations. In support of its ongoing fleet renewal and network expansion it sourced 18 Boeing 787-10 Dreamliner and five Boeing 737 MAX-8 fuel-efficient aircraft for future delivery.
• Hired 8,000 people during the year, bringing the total employee count to approximately 39,000 and, through $1.6 billion in capital expenditures during the year, including within Canada, invested in such things as new aircraft, technology and customer service improvements.
• Furthered its business diversification, with Aeroplan reaching eight million members, Air Canada Cargo deploying its seven cargo freighters to more than 12 destinations, and Air Canada Vacations materially increasing its revenues.
• Implemented four structural Diversity, Equity and Inclusion (DEI) pillars: DEI Executive Council, DEI Steering Committee, DEI Champions Program, and the formalization of employee resource groups (ERGs).
• Supported, with the Air Canada Foundation, 360 Canadian charitable organizations dedicated to the health and well-being of children. The Foundation raised more than $1.7 million, and the Dreams Take Flight program resumed flying, allowing more than 1,000 children to create treasured experiences.

The report is available in the Investor Relations section of www.aircanada.com.