For 2025, Air Canada lowered its adjusted EBITDA forecast to C$3.2–C$3.6 billion from a previous estimate of up to C$3.8 billion, citing weaker demand for transborder travel. In response, the airline ramped up Aeroplan-focused promotions in Q1, including triple points for European travelers flying to North America. These initiatives underscore Aeroplan’s growing importance in boosting international traffic and deepening customer loyalty.
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Air CanadaFY 2024 Financial Performance
In fiscal year 2024, Air Canada reported total operating revenues of C$20.3 billion, reflecting a 7% increase year-over-year. The airline achieved an adjusted EBITDA of C$3.5 billion, in line with its guidance range of C$3.4 to C$3.8 billion. However, rising operational costs, particularly in labor and maintenance, contributed to a net loss of C$200 million for the year.
Key Initiatives in 2024
1. Fleet Modernization and Expansion
Air Canada continued its fleet renewal program with the addition of 15 new aircraft, including Airbus A220-300s and Boeing 787-9 Dreamliners. These aircraft improved fuel efficiency and passenger comfort. Additionally, the airline placed orders for 30 Airbus A321XLRs, with deliveries beginning in 2026 to support long-haul narrow-body operations.
2. Network Growth
The carrier expanded its international network with new routes to cities such as Stockholm, Naples, and Porto, and resumed key routes to Beijing and Tel Aviv, targeting rebounding global travel demand.
3. Digital Transformation
Investments in technology enhanced customer experience through upgrades to the mobile app and the rollout of biometric boarding at select airports. These initiatives aimed to streamline the passenger journey and reduce processing times.
Q1 2025 Financial Performance
In the first quarter of 2025, Air Canada reported operating revenues of C$5.19 billion, a 1% decrease year-over-year, missing analyst expectations of C$5.29 billion. The airline posted an adjusted loss of C$0.45 per share, wider than the C$0.27 loss in the same period last year but better than the anticipated C$0.54 loss. Factors contributing to the decline included a 10% drop in U.S.-bound bookings, attributed to a weaker Canadian dollar and strained trade relations with the United States. Additionally, winter storms and operational disruptions at Toronto Pearson International Airport impacted performance.
2025 Outlook
For 2025, Air Canada has revised its adjusted EBITDA forecast to a range of C$3.2 billion to C$3.6 billion, down from the previous estimate of up to C$3.8 billion, due to anticipated softness in transborder travel demand. The airline plans to shift capacity from underperforming domestic and transborder routes to higher-demand international services, particularly in Asia and Europe. To stimulate demand, Air Canada has launched promotional campaigns, such as offering triple Aeroplan reward points for flights to Canada and the United States, targeting European customers.
Aeroplan Loyalty Program: 2024 Results and 2025 Vision
2024 Performance
As of 2024, Air Canada’s Aeroplan loyalty program boasts over 8 million active members. This milestone reflects the program’s significant growth and its appeal to travelers seeking valuable rewards and benefits.Aeroplan recorded a 12% increase in membership during 2024. The program saw greater engagement through initiatives like the launch of the Aeroplan eStore, which allowed members to earn points via online retail purchases. Strategic promotions offering up to 85% bonus points on purchased miles further stimulated participation.
In 2024, Aeroplan celebrated its 40th anniversary with a series of promotions and enhancements designed to engage members and commemorate the program’s longevity. Notably, the “Aeroplan-niversary” campaign offered members the chance to win 1 million points, among other special offers.
2025 Outlook
Looking to 2025, Air Canada will enhance Aeroplan with new benefits, including complimentary Wi-Fi access for members on Wi-Fi-equipped flights across North America, Mexico, and the Caribbean. This improvement is part of a broader strategy to elevate in-flight experiences and solidify customer loyalty. Additional plans include expanding Aeroplan’s partner network to offer more point-earning and redemption opportunities.
Source: Air Canada / GLO.
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