Air Canada plans to hike flight capacity after profit sinks in Q2

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Air Canada reported a second-quarter profit of $410 million, down from $838 million a year earlier, as its operating revenue edged higher.The airline says its net income amounted to $1.04 per diluted share for the quarter, down from $2.34 per diluted share in the same quarter last year.Operating revenue totalled $5.52 billion, up from $5.43 billion a year earlier.The rise came as the airline increased its operated capacity by 6.5 per cent compared with last year.Financial news and insights delivered to your email every Saturday.Get weekly money newsGet expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday.Sign up for weekly money newsletterSign UpBy providing your email address, you have read and agree to Global News’ Terms and Conditions and Privacy Policy.On an adjusted basis, Air Canada says it earned 98 cents per diluted share, down from an adjusted profit of $1.85 per diluted share in the same quarter a year ago.In its outlook, the airline says it plans to increase its available seat mile capacity in the third quarter by between four and 4.5 per cent compared with the same quarter in 2023.Trending NowSearch suspended for missing family of 4 after boat sinks off Alaska coastOlympic triathletes fall ill after River Seine swims. What we know so farStory continues below advertisement 4:37Canada’s Competition Bureau has launched air travel industry probe