Air Canada loses $1.16B due to COVID-19

shahennews

 Air Canada, the largest Canadian airline, posted a staggering $1.16 billion loss in the fourth quarter of 2020 due to the COVID-19 pandemic.

Air Canada president and CEO Calin Rovinescu said it was the bleakest year in aviation history.

Rovinescu told the CBC News that discussions have ramped up over the last several weeks with the Canadian federal government about a bailout package for the sector.

“The airline’s operating revenue dropped to $827 million in the fourth quarter, as the pandemic has hampered air travel, “he added.

Air Canada’s passenger numbers declined 73 per cent in 2020 following several years of recording growth, Rovinescu further said.

//Petra// WH