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Air Canada reports $1.75B loss as revenues plummet
Air Canada is reporting a $1.75-billion loss in its second quarter.
Revenues plunged 89 per cent as the airline grounded most flights due to the COVID-19 pandemic.
“As with many other major airlines worldwide, Air Canada’s second quarter results confirm the devastating and unprecedented effects of the COVID-19 pandemic and government-imposed travel and border restrictions and quarantine requirements,” said CEO Calin
Rovinescu.
The country’s largest airline says it cut spending by reducing management and front-line workers as well as retiring about one-third of its planes and suspending some domestic routes.
