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Reporting Currency: CAD

Current Year

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Current Year

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Result Comments:

For the year ended October 31, 2023, revenues were up $1,406.3 million (85.6%). This significant increase was attributable to the resumption of operations and to strong demand. In 2022, the Corporation’s revenues were dampened, mainly during the first six month period, by the sharp decline in demand and massive booking cancellations following the emergence of the Omicron variant. As a result, the Corporation reduced total winter season capacity by approximately 22% of the initially deployed capacity. Since then, the Corporation has deployed a winter season capacity at 95% of pre-pandemic levels and 90% for the summer season. Compared with the corresponding period of fiscal 2019, revenues for the year ended October 31, 2023 were up 3.8%. For the 2023 winter season, the number of travellers was 8% lower than the number of travellers for the corresponding period of 2019, whereas the airline unit revenues, expressed in revenue per passenger-mile (or yield), were 21.0% higher. For our South market, the selling prices showed an average increase of 21.8%. Across all our markets, the Corporation reported a load factor of 85.0% compared to 88.3% in 2019. For the 2023 summer season, the number of travellers was 7% lower than the number of travellers for the corresponding period of 2019, whereas the airline unit revenues were 27.0% higher compared to 2019. For transatlantic routes, airline unit revenues showed an increase of 30.6%. Across all our markets, the Corporation reported a load factor of 88.4% compared to 88.6% in 2019.