Air Canada lowers 2024 EBITDA forecast to $3.1-3.4B from $3.7-4.2B due to market challenges.

Air Canada has lowered its 2024 earnings forecast due to challenges such as competition in international markets, excess capacity, and evolving market conditions. The airline now expects its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to be between $3.1 billion to $3.4 billion, down from its previous forecast of $3.7 billion to $4.2 billion. The new outlook comes as Air Canada reported preliminary results for the second quarter ahead of its next earnings date on August 7.