Air Canada benefits on strong demand for overseas travel [Video]

Air Canada on Friday raised its annual core profit forecast and announced share buybacks, as the country’s largest carrier benefits from strong demand for international travel.

Major North American carriers with international operations are cashing in on booming demand for overseas travel and improved business bookings.

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Air Canada is increasing its flights to China, while also adding capacity to other Asia-Pacific routes, even as it saw some pressure on transatlantic travel, the airline said.

Mark Galardo, Air Canada’s executive vice-president for revenue and network planning, said the carrier is seeing early indications that transatlantic business will bounce back in 2025.

The Montreal-based carrier reported quarterly earnings ahead of analysts’ expectations for revenues and adjusted profits, despite seeing weeks of softer booking volumes due to labour uncertainty as its pilots negotiated a new contract.

Last month, …