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Air Canada Reports First Quarter 2021 Results


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MONTREAL, May 7, 2021 /CNW Telbec/ - Air Canada today reported first quarter 2021 financial results:
Operating revenues of $729 million, a decline of $2.993 billion or 80 per cent from the first quarter of 2020.
Negative EBITDA 
(1
) (earnings before interest, taxes, depreciation and amortization), excluding special items, of $763 million compared to EBITDA of $71 million in the same quarter of 2020.
Operating loss of $1.049 billion compared to an operating loss of $433 million in the first quarter of 2020.
Net cash burn of $1.274 billion, or approximately $14 million per day, on average.
Unrestricted liquidity amounted to $6.582 billion at March 31, 2021.
The persistence of COVID-19 and its resurgence in Canada are weighing heavily on the Canadian airline industry, as reflected in Air Canada s first quarter results. Still, through the hard work and dedication of our employees, we are operating a limited schedule for ne ....

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