North America (Change)

Total revenues of $757 million in the third quarter of 2020 declined $4.773 billion or 86 per cent from the third quarter of 2019. The airline reported third quarter 2020 negative EBITDA(1) or (earnings before interest, taxes, depreciation and amortization), excluding special items, of $554 million compared to third quarter 2019 EBITDA of $1.472 billion. Air Canada reported an operating loss of $785 million in the third quarter of 2020 compared to operating income of $956 million in the third quarter of 2019. Total revenue passengers carried declined 88 per cent in the quarter compared to last year’s third quarter. Unrestricted liquidity amounted to $8.189 billion at September 30, 2020.  “Today’s results reflect COVID-19’s unprecedented impact on our industry globally and on Air Canada in what has historically been our most productive and profitable quarter. From the outset, we have made the health and safety of our customers and employees our chief concern.”

Air Canada Reports Third Quarter 2020 Results, November 9, 2020, www.aircanada.ca