Tag Archives: Boeing 777-333 ER

Air Canada expands its Summer 2022 International Schedule; Relaunching 34 Routes to Europe, Asia, Africa and The Middle East

Air Canada today announced an expanded Summer 2022 international schedule with 34 routes relaunching across the Atlantic and Pacific. Starting next month, non-stop services will begin resuming from Toronto to Tel Aviv, Paris, Tokyo and Amsterdam, signs that recovery is well underway. Service from Montreal to Casablanca, Nice, Algiers, Rome, Tel Aviv and Tokyo will also be resuming. From Vancouver, Air Canada will be offering service to Frankfurt, Dublin, and Zurich.

Air Canada is also relaunching service to popular tourist destinations such as Barcelona, Budapest, Copenhagen, Madrid, Milan, and Venice, which have been suspended since the beginning of the pandemic in March 2020.

The relaunch of international routes builds on Air Canada’s major expansion in the North American market, where 7 new routes are scheduled for Summer 2022 and 41 previously suspended routes are resuming. Flights are timed to optimize connectivity to Air Canada’s extensive North American network, including 46 airports in the U.S. Seats in all cabins are available for purchase now at aircanada.com, via the Air Canada App, Air Canada’s Contact Centres, and travel agents.

Summer 2022 International Route Resumptions

Toronto

To	Start Date
*Tel Aviv	March 1
*Paris	March 2
*Amsterdam	March 2
Lisbon	March 26
*Vienna	March 26
Athens	March 27
Rome	March 27
Venice	April 15
*Tokyo	April 27
*Copenhagen	May 2
Budapest	May 3
Barcelona	May 4
*Madrid	May 19
Edinburgh	May 30
Manchester	May 30
Reykjavik	June 1

Vancouver

To	Start Date
Frankfurt	May 1
Dublin	June 1
Zurich	June 17

Montreal

To	Start Date
Rome	March 26
Lisbon	March 27
Athens	March 28
Venice	April 16
Tel Aviv	May 1
Cairo	May 3
*Casablanca	May 4
Barcelona	May 6
Nice	May 12
*Milan	May 21
Reykjavik	June 2
Dublin	June 2
*Tokyo	June 4
Algiers	June 8

Halifax

To	Start Date
*London-Heathrow	April 30

Asterix * marks year-round service.

Air Canada may continue to adjust its schedule as more opportunities arise or based on COVID-19’s trajectory and the further easing of travel restrictions by government.

Product enhancements

Air Canada’s onboard services on international flights showcase the best cuisine Canadian culinary talent has to offer with Air Canada’s panel of celebrity chefs, including award-winning, Vancouver-based chefs David Hawksworth and Vikram Vij, and renowned Montreal chefs Antonio Park and chef Jérôme Ferrer. Complementing the culinary journey is a selection of top wines chosen by leading Canadian sommelier, Véronique Rivest.

The flights are operated by Air Canada’s fleet of Boeing 777, Boeing 787 Dreamliner, and Airbus A330-300 aircraft featuring Signature, Premium Economy and Economy cabins, and Boeing 737 MAX, featuring Premium Economy and Economy cabins. All flights provide for Aeroplan accumulation and redemption and, for eligible customers and Aeroplan members, priority check-in, Maple Leaf Lounge access, priority boarding and other benefits.

For 85 years, we have connected Canadians from coast to coast & to the world. On #NationalAviationDay, we proudly recognize our employees who make that all possible every day. We look forward as we continue to sustainably contribute to Canada’s economic successes. pic.twitter.com/KU5DPfFY2C

— Air Canada (@AirCanada) February 23, 2022

Video:

Top Copyright Photo: Air Canada Boeing 777-333 ER C-FIUR (msn 35242) MUC (Gunter Mayer). Image: 956860.

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Air Canada exits Government of Canada financial support as industry recovery continues

Air Canada today announced that due to its improved liquidity position and ongoing recovery from the pandemic it is withdrawing from further Government of Canada financial support. The support package, announced in April 2021, provided the carrier access to interest bearing loans of $5.375 billion through several separate credit facilities. To date, Air Canada has only accessed the facility solely dedicated to refunding customers’ non-refundable tickets, while all other remaining facilities totaling $3.975 billion have not been used.

“Air Canada’s recovery from COVID-19 continues. We are recalling employees, adding new routes and frequencies to our network, and restoring services, and, last quarter, we completed a $7.1-billion financing. Today, in another convincing sign of our progress, we are announcing our withdrawal from the major funding provisions of our support agreement with the Government of Canada for the $3.975 billion in facilities that were never accessed and remain unused,” said Michael Rousseau, President and Chief Executive Officer.

“We deeply appreciate the Government of Canada’s support as this helped maintain a level playing field at a time when governments around the world, recognizing the importance of air travel to their economies, were also assisting their national carriers in the face of the unprecedented downturn caused by COVID-19. In addition to helping preserve thousands of jobs and travel choice for Canadians, the assistance offered to Air Canada importantly served as an extra level of insurance that enabled us to raise additional liquidity on our own to manage the pandemic and give us sufficient resources to effectively compete in the post-pandemic marketplace.”

Background

Air Canada’s support agreement with the government, under the Large Employer Emergency Financing Facility, provided access to up to $5.375 billion in interest bearing loans and $500 million in equity for a total of $5.875 billion in liquidity. It consisted of several elements, including:

A $1.5 billion secured revolving facility and three separate $825 million unsecured revolving credit facilities. None of the $3.975 billion available under these facilities was ever drawn and, under the terms of its agreement with the government, Air Canada was entitled to terminate them at any time without penalty and has done so.
A $1.4 billion unsecured facility solely dedicated to refunding customers’ non-refundable tickets. Approximately 58 per cent of eligible customers requested refunds, including those not covered by the government facility, with the balance voluntarily retaining future flight credits with the carrier. To date, Air Canada has accessed about $1.2 billion of the facility with the money going directly to customers. The money used for refunding the non-refundable tickets will be repaid as per the terms of the agreement with interest paid quarterly by Air Canada.
The government purchased $500 million worth of Air Canada common shares at $23.18 per share, representing about 6 per cent of the current public float, which it continues to hold.
Air Canada also issued to the government about 14.6 million 10-year warrants for the purchase of an equal number of Air Canada shares, at a price of approximately $27.27 per share. With the termination of the operating credit facilities, half of these warrants, which have not yet vested with the government, have been cancelled immediately. Subject to TSX approval, Air Canada intends to call the balance of the vested warrants for cancellation as per their terms at fair market value.

In the third quarter of 2021, Air Canada completed a series of financing transactions generating gross proceeds of about $7.1 billion. These financing transactions provided substantial liquidity to Air Canada and extended debt maturities out until near the end of the decade. With the release of its third quarter results on November 2, 2021, Air Canada reported that as of September 30, 2021, its unrestricted liquidity was approximately $14.4 billion and consisted of roughly $9.5 billion in cash and cash equivalents, short-term and long-term investments, and about $4.9 billion in available undrawn credit facilities, including the $3.975 billion in unused government facilities being cancelled with today’s announcement.

Top Copyright Photo: Air Canada Boeing 777-333 ER C-FITU (msn 35254) AMS (Ton Jochems). Image: 955883.

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Air Canada reports its first quarter results

Operating income of $127 million and EBITDA of $583 million
Record first quarter operating revenues of $4.453 billion
Leverage ratio of 1.2
Record unrestricted liquidity of $6.877 billion

Air Canada has reported first quarter 2019 EBITDA⁽¹⁾ (earnings before interest, taxes, depreciation, amortization and impairment) of $583 million compared to first quarter 2018 EBITDA of $504 million. The airline reported first quarter 2019 operating income of $127 million compared to first quarter 2018 operating income of $86 million. Adjusted pre-tax income⁽¹⁾amounted to $24 million in the first quarter of 2019 compared to an adjusted pre-tax loss of $32 million in the first quarter of 2018. On a GAAP basis, the airline reported net income of $345 million in the first quarter of 2019 compared to a net loss of $203 million in the first quarter of 2018.

“I am pleased to report excellent first quarter results for Air Canada, despite several challenges in the quarter. We set records of $4.453 billion in operating revenue and $6.877 billion in liquidity for the period and delivered on a system yield improvement of 5.0 per cent over last year’s first quarter. Contributing to our performance was the completion of two key strategic initiatives early in the quarter with better than expected results – our acquisition of the Aeroplan loyalty program and our conclusion of a new capacity purchase agreement with Chorus Aviation for flying by Jazz. We are further encouraged by strong booking trends entering the busy summer peak,” said Calin Rovinescu, President and Chief Executive Officer of Air Canada.

“These Q1 results, following on records set in previous quarters, are an affirmation of our ability to operate on a sustainably profitable basis, notwithstanding fuel price or foreign currency fluctuations or other unexpected challenges. With respect to our cost containment initiatives, we have now realized or identified savings of $242 million, or 97 per cent, of our previously announced two-year $250 million Cost Transformation Program to December 31, 2019. We also made further progress in lowering our leverage ratio in the quarter, which improved to 1.2. Our greater financial resiliency was acknowledged during the quarter by a debt-rating upgrade from Standard & Poor’s, which advances us to one level below our goal of investment grade status. Fitch also recently upgraded our debt rating.

“The grounding of the Boeing 737 MAX aircraft following Transport Canada’s and other regulators’ decisions resulted in the unexpected removal of 24 aircraft from our fleet during the last 18 days of the quarter, with the associated cost and revenue impact. Our team immediately executed on several significant mitigation measures, including entering into new leases and extensions, contracting other airlines to cover some flights and consolidating flights and frequencies, thereby protecting approximately 98 per cent of our flying from the date of the grounding to April 30. The agility of our business model, the flexibility of our fleet and our team’s “can-do” culture was on full display as we adjusted to these unexpected circumstances. This is further evidence of the changed culture at Air Canada, with its emphasis on nimble decision-making and a focus on customer care,” said Mr. Rovinescu.

“I commend our employees for their adaptability and commitment to taking care of our customers. Through a challenging period, they have stepped up to put our customers first. And I also thank our customers for their continued loyalty in choosing to fly with Air Canada.”

First Quarter Income Statement Highlights

Air Canada began consolidating Aeroplan’s financial results on the January 10, 2019 acquisition date. Air Canada adopted accounting standard IFRS 16 – Leases effective January 1, 2019 and restated 2018 amounts (including for period over period comparisons).

On capacity growth of 4.6 per cent, record first quarter system passenger revenues of $3.816 billion increased $327 millionor 9.4 per cent from the same quarter in 2018. The increase in system passenger revenues was driven by a yield improvement of 5.0 per cent and traffic growth of 4.2 per cent. The yield improvement resulted from a strong demand environment and included additional yield earned by Air Canada on Aeroplan redemption revenues recorded subsequent to the Aeroplan acquisition on January 10, 2019.

In the business cabin, system passenger revenues increased $90 million or 12.4 per cent from the first quarter of 2018 on traffic and yield growth of 8.0 per cent and 4.1 per cent, respectively.

In the first quarter of 2019, operating expenses of $4.326 billion increased $341 million or 9 per cent from the first quarter of 2018.

Air Canada’s cost per available seat mile (CASM) increased 3.7 per cent from the first quarter of 2018. The airline’s adjusted CASM⁽¹⁾ increased 3.2 per cent over the same quarter in 2018. Given that the Aeroplan loyalty business was not consolidated in Air Canada’s financial results in 2018, for a more meaningful comparison of the cost performance of the ongoing airline business, Air Canada’s adjusted CASM for the first quarter of 2019 excludes the operating expenses of Aeroplan.

Air Canada recorded adjusted net income⁽¹⁾ of $17 million or $0.06 per diluted share in the first quarter of 2019 compared to an adjusted net loss of $26 million or $0.10 per diluted share in the first quarter of 2018. On a GAAP basis, the airline reported first quarter 2019 net income of $345 million or $1.26 per diluted share compared to a first quarter 2018 net loss of $203 million or $0.74 per diluted share. Air Canada recorded foreign exchange gains of $263 million in the first quarter of 2019 compared to foreign exchange losses of $197 million in the first quarter of 2018.

Top Copyright Photo (all others by the airline): Air Canada Boeing 777-333 ER C-FIVX (msn 42219) LHR (Keith Burton). Image: 946424.

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Air Canada completes the inauguration of new 25 new routes

Air Canada today inaugurates five new nonstop regional services from Montreal to Windsor, Montreal to London ON, Edmonton to Kelowna, Edmonton and Victoria, Calgary and Comox, completing the successful launch of 25 new year-round and seasonal routes this summer.

The 25 new routes were inaugurated between May 1 and July 2, 2018 and include a combination of Air Canada mainline, Air Canada Rouge and Air Canada Express services:

Departure City	Destination	Service
Toronto	Buenos Aires	Mainline
Toronto	Shannon*	Mainline
Toronto	Zagreb*	Rouge
Toronto	Porto*	Rouge
Toronto	Bucharest*	Rouge
Toronto	Omaha	Express
Toronto	Providence*	Express
Toronto	Nanaimo*	Rouge
Toronto	Kamloops*	Rouge
Montreal	Tokyo Narita	Mainline
Montreal	Dublin*	Mainline
Montreal	Bucharest*	Rouge
Montreal	Lisbon*	Rouge
Montreal	Baltimore	Express
Montreal	Pittsburgh	Express
Montreal	Victoria*	Rouge
Montreal	Windsor	Express
Montreal	London, ON	Express
Vancouver	Zurich*	Mainline
Vancouver	Paris*	Mainline
Vancouver	Sacramento	Express
Edmonton	San Francisco	Express
Edmonton	Kelowna	Express
Edmonton	Victoria*	Express
Calgary	Comox*	Express

*Indicates summer seasonal route

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Air Canada begins offering satellite connectivity on international flights

Air Canada said today it has begun offering next-generation, satellite connectivity on its wide-body international fleet with the introduction of Air Canada Wi-Fi provided by Gogo. Starting with flights operated by Boeing 777-300ER aircraft, the new service will be the fastest available on any Canadian airline and makes Air Canada the first Canadian carrier to offer customers the ability to stream TV and movies in-flight through the internet.

“Air Canada customers on international wide-body flights will have access to the fastest internet service available on any Canadian carrier. Air Canada Wi-Fi will make traveling more enjoyable whether you’re connecting with family and friends, watching a favorite movie or TV program on the internet, or scrolling through your social media feeds. The speed and reliability of Air Canada Wi-Fi will also make it an excellent productivity tool for business travelers, who will be able to keep in touch and work during their journey so they can stay up-to-date and arrive fully prepared for any meeting or event,” said Benjamin Smith, President, Passenger Airlines, at Air Canada.

Air Canada Satellite Wi-Fi is now available on the airline’s Boeing 777-300ER aircraft and on Air Canada Rouge’s narrow-body fleet. The entire Air Canada and Air Canada Rouge wide-body fleet – including the Boeing 777-200LR, 787-8/9 and Airbus 330 and Air Canada Rouge Boeing 767-300ER – is scheduled to be equipped with the system by mid-2019. Customers can choose from a selection of Wi-Fi packages to suit their needs and Air Canada is offering special introductory pricing for the service starting at $5 on the airline’s Boeing 777-300ER fleet until August 31, 2018.

In addition to the satellite connectivity available on Boeing 777-300ER aircraft and the Air Canada Rouge Airbus narrow-body fleet, Air Canada and Air Canada Express also offer customers Wi-Fi connectivity through a ground-based system provided by Gogo on their narrow-body Airbus A319/320/321, Embraer 175/190 and Bombardier CRJ-900 aircraft travelling within North America.

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Air Canada adds capacity on key transcontinental routes in response to strike vote mandate at WestJet

Air Canada made this announcement:

In response to the strike vote mandate given by WestJet’s pilots, Air Canada today announced it has now added capacity on key transcontinental routes by up-gauging aircraft on certain flights from its primary global hub in Toronto to Vancouver, Calgary, Edmonton, Winnipeg, Montreal, Ottawa, Halifax, from Vancouver to Calgary, Edmonton, and from Calgary to Montreal.

Air Canada aircraft slide show (current livery):

Air Canada unveils the real 2018 Olympics Team Plane

Air Canada on February 1, 2018 rolled out of the hangar at Toronto (Pearson) this Boeing 777-300 painted in the new livery and also with special “Go Canada Go!” sub-titles and Olympic logos as the Team Canada charter aircraft.

Air Canada previously announced on December 18, 2017 that it has renewed its sponsorship as the Official Airline of the Canadian Olympic Committee and Canadian Paralympic Committee. The four-year agreement extends through the PyeongChang 2018 Olympic and Paralympic Winter Games, and the Tokyo 2020 Olympic and Paralympic Summer Games.

Air Canada has been a sponsor of Canada’s Olympic Team since 1988 and a sponsor of Canada’s Paralympic Team since 2007. The partnership builds on Air Canada’s commitment to Team Canada from their efforts at 2016’s Games, when Air Canada flew more than 690 Canadian athletes, coaches and support staff to Rio.

Through these arrangements, the airline provides special services and transport for competitions. As well, under the renewed agreement Air Canada will:

Renew its Altitude Podium Program to provide qualified athletes 35K status and access to International Maple Leaf lounges while competing abroad;
Give athletes individual Care & Share packages for added comfort during the flight and include memorabilia they can share with others at the games;
Sponsor the outdoor area, available to the public, at the Canadian Olympic House in PyeongChang;
And host airport celebrations as athletes arrive at and return from the games.

To further show its support, Air Canada has entered into an agreement with five high-profile athletes who will be featured in a campaign beginning in January. They include figure skaters Patrick Chan, Tessa Virtue and Scott Moir; freestyle skier (halfpipe) Cassie Sharpe; and Paralympic biathlon skier Mark Arendz.

Air Canada aircraft slide show (current livery):

Air Canada to launch new domestic western regional routes, Vancouver – Delhi route to become year-round

Air Canada has announced it will begin new domestic regional nonstop flights on July 2, 2018.

“We are pleased to offer new nonstop flights onboard our Bombardier Q400s between popular BC and Alberta cities as we continue to strategically expand our already extensive domestic network,” said Benjamin Smith, President, Passenger Airlines at Air Canada. “With the continued growth at several communities on Vancouver Island and in the BC Okanagan, we see the opportunity to add new nonstop services and provide additional convenient travel options.”

“With Alberta being such a key market, the new direct flights into Kelowna, Victoria and Comox are great news for British Columbia’s visitor economy,” said Walt Judas, CEO of the Tourism Industry Association of British Columbia. “Air Canada’scommitment to servicing these routes is not only a huge boost for the individual communities, it is also a major benefit for the Thompson Okanagan and Vancouver Island regions as a whole.”

Top Copyright Photo: Air Canada Express-Jazz Aviation Bombardier DHC-8-402 (Q400) C-GGNW (msn 4388) YYC (Chris Sands). Image: 925782.

Air Canada Express-Jazz Aviation aircraft slide show:

Route and frequency	Flight	Departs	Arrives
Edmonton-Kelowna – year-round	AC8395 YEG-YLW	Edmonton at 08:40	Kelowna at 08:59
	AC8403 YEG-YLW	Edmonton at 16:05	Kelowna at 16:24
Kelowna-Edmonton – year-round	AC8394 YLW-YEG	Kelowna at 09:30	Edmonton at 11:51
	AC8404 YLW-YEG	Kelowna at 16:55	Edmonton at 19:16
Edmonton-Victoria – seasonal	AC8095 YEG-YYJ	Edmonton at 08:40	Victoria at 09:40
	AC8053 YEG-YYJ	Edmonton at 16:00	Victoria at 17:00
Victoria-Edmonton – seasonal	AC8086 YYJ-YEG	Victoria at 10:10	Edmonton at 12:55
	AC8088 YYJ-YEG	Victoria at 17:30	Edmonton at 20:15
Calgary-Comox – seasonal	AC8362 YYC-YQQ	Calgary at 10:05	Comox at 10:58
	AC8361 YQQ-YYC	Comox at 11:30	Calgary at 14:14

These new routes complement Air Canada’s previously announced new nonstop North America routes beginning 2018:

Toronto to: Omaha, Providence, Nanaimo, Kamloops
Montreal to: Baltimore, Pittsburgh, Victoria
Edmonton to: San Francisco
Vancouver to: Sacramento

Air Canada will launch new international services in 2018 including:

Toronto to: Shannon (Ireland), Porto (Portugal), Zagreb (Croatia), Bucharest (Romania), Buenos Aires (Argentina)
Montreal to: Tokyo–Narita (Japan), Dublin (Ireland), Bucharest (Romania), Lisbon (Portugal)
Vancouver to: Paris (France), Zurich (Switzerland)

In other news, Air Canada also announced that its current seasonal nonstop Vancouver–Delhi flights will become year-round starting June 8, 2018.

Above Copyright Photo: The first Boeing 777-300 has now been repainted in the new livery. Air Canada Boeing 777-333 ER C-FITL (msn 35256) YYZ (TMK Photography). Image: 940829.

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