Air Canada Hits Record C$6.98 Billion Revenue in Q3 2026

Montréal, Canada — Air Canada posted its strongest quarterly performance in company history, reporting record third-quarter operating revenue of C$6.98 billion, up 21% year over year. The results signal sustained demand for air travel heading into the final stretch of 2026.

Passenger revenue reached a record C$6.3 billion, also up 21%. For the first time, each month of the quarter surpassed C$2 billion in passenger revenue. The airline’s passenger load factor climbed to 89%, an increase of 2.6 percentage points year over year, while yields grew 11%, reflecting strong pricing across its global network.

Cargo revenue rose 33% year over year, supported by higher freight yields. Air Canada Chief Commercial Officer Mark Galardo said the results demonstrate the continued resilience of the airline’s commercial model, adding that Q3 marked “another consecutive quarter of record revenue.”

However, higher fuel costs tempered the strong top-line results. Fuel costs rose 68% year over year, contributing to a decline in the adjusted EBITDA margin to 13.4%, from 16.6% a year earlier.

Adjusted net income attributable to shareholders was C$214 million, with adjusted diluted earnings per share of C$0.75—approximately 36.5% above analyst forecasts.

Air Canada also repaid C$1.7 billion in debt using proceeds from an Aeroplan transaction and completed an C$800 million substantial issuer bid, reducing the number of shares outstanding by approximately 10%.

Source: Travel Daily News — Air Canada Q3 2026: Revenue rises 21% to C$7bn