Air Canada shares rose 10% after reporting a $2.04 billion profit and raising its profit outlook.

Air Canada shares surged over 10% after the airline raised its profit forecast, reported a third-quarter profit of $2.04 billion, and announced a share buyback program for 10% of outstanding shares. Improved demand for international travel and business bookings contributed to this success. Despite a revenue drop of 4% to $6.11 billion due to pilot contract negotiations, the airline's adjusted profit of $2.57 per share exceeded analyst expectations.

November 01, 2024
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