Air Canada has reported an operating loss of about $3.8 billion in 2020 compared to operating income of about $1.7 billion in 2019.

Calin Rovinescu, President and Chief Executive Officer of Air Canada says, “With today’s release of 2020 fourth quarter and full year results, we close the book on the bleakest year in the history of commercial aviation.” He says, “The catastrophic impact of COVID-19 and government-imposed travel restrictions and quarantines has been felt across our entire network, deeply affecting all of our stakeholders. It has resulted in a 73 per cent decline in passengers carried at Air Canada during the year.”

Rovinescu says, while uncertainty remains as a result of the new variants of the virus and changing travel restrictions, the promise of new testing capabilities and vaccines is encouraging and presents some light at the end of the tunnel.

He says he is also encouraged by discussions they have had with the federal government on sector-specific financial support over the last several weeks. Rovinescu says while there is no assurance that they will arrive at a definitive agreement on sector support, he is more optimistic on this front for the first time.