Citing strong financial results– including record annual revenue – Air Canada issued its 2023 Annual Report highlighting the carrier’s achievements for the year, including progress made on several key strategic initiatives.
“Air Canada delivered very strong results in 2023. We met key financial objectives and advanced or exceeded most of our strategic and operational goals for the year, demonstrating our ability to perform consistently,” said Michael Rousseau, President and CEO of Air Canada.
“We continued to renew our fleet with more fuel-efficient and comfortable aircraft, and we expanded our network and products to offer more choice and convenience to our customers. We also advanced our Environmental, Social and Governance programs through our sustainability, equity and accessibility activities and supported the communities we serve, including by providing thousands of employment opportunities.
“Air Canada has a solid foundation to build upon and a clear vision for the future as a leader in the global aviation industry…”
Among Air Canada’s key accomplishments in 2023::
- Safely carried 46 million passengers and earned full year operating income of $2.3 billionon record operating revenue of $21.8 billion.
- Launched 14 new routes to serve 188 direct destinations. In support of its ongoing fleet renewal and network expansion it sourced 18 Boeing 787-10 Dreamliner and five Boeing 737 MAX-8 fuel-efficient aircraft for future delivery.
- Hired 8,000 people during the year, bringing the total employee count to approximately 39,000 and, through $1.6 billionin capital expenditures during the year, including within Canada, invested in such things as new aircraft, technology and customer service improvements.
- Furthered its business diversification, with Aeroplan reaching eight million members, Air Canada Cargo deploying its seven cargo freighters to more than 12 destinations, and Air Canada Vacations materially increasing its revenues.
- Completed 41 initiatives under its Elevating the Customer Experience service plan and improved key operating metrics, such as on-time performance and baggage handling. In addition, it accelerated its three-year accessibility plan to better accommodate customers with disabilities.
- Worked toward our climate action plan through various initiatives, including with the addition of modern and efficient aircraft and ground support equipment (e-GSE vehicles) to the fleet, sourcing additional SAF and continuing to engage with our corporate customers through our Leave Less Travel Program.
- Implemented four structural Diversity, Equity, and Inclusion (DEI) pillars: DEI Executive Council, DEI Steering Committee, DEI Champions Program, and the formalization of employee resource groups (ERGs).
- Supported, with the Air Canada Foundation, 360 Canadian charitable organizations dedicated to the health and well-being of children. The Foundation raised more than $1.7 million, and the Dreams Take Flight program resumed flying, allowing more than 1,000 children to create treasured experiences.
The full report is available HERE.