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Due to COVID-19, Air Canada reports $1.05B loss

Source: Amanda Connolly, globalnews.ca, May 01, 2020

In an additional effort reduce costs structure Air Canada is also retiring 79 older aircrafts. 

Air Canada says it lost $1.05 billion in its first quarter compared with a profit of $345 million in the same quarter last year as governments imposed travel restrictions around the world due to the COVID-19 pandemic.

The airline says the loss amounted to $4.00 per diluted share for the quarter compared with a profit of $1.26 per diluted share in the first quarter of 2019.

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