Q1 Report from Air Canada
Travel and tourism in Canada is experiencing strong signs of recovery according to the latest data released by Air Canada, despite a very suppressed start to 2022 brought on by the Omicron variant of Covid-19.
According to the latest data provided by Air Canada in their Q1 report, ticket sales in March reached 90 per cent of March 2019 levels. After a slow start to the year, projections for the second and third quarters are becoming increasingly optimistic.
“The substantial year-over-year improvement in Air Canada’s first quarter results is clear evidence that a recovery is underway.” said Michael Rousseau, President and Chief Executive Officer of Air Canada.
Air Canada’s operating revenues more than tripled Q1 of 2021, soaring to $2.573 billion. The airline also cut its operating loss in half – $550 million compared to the 1.049 billion in Q1 of 2021. Price hikes are to be expected to continue making up this ground.
“Given pent-up travel demand, the demonstrated loyalty of our customers, and the expected further removal of travel-related government restrictions, Air Canada anticipates its recovery will gain momentum through the balance of 2022 and beyond,” said Rousseau.
What about corporate travel?
At the hight of the pandemic, travel amongst our customers fell to near zero. Slowly but surely, levels have begun to pick up and thankfully we are experiencing this recovery first hand.
The most significant hurdle that faced corporate travel was pre-arrival testing, a hurdle that finally fell at the beginning of the month.
Confidence is returning in travellers, no longer do we have to worry about positive tests scuppering long awaited and meticulously planned trips and retreats.
The pandemic has certainly left its mark however, with 44% of travellers now considering travel representation as a result. It’s understandable with travel becoming so unbelievably complicated over the last couple of years, why not let someone do it for you?