(Reuters) – Air Canada reported a smaller fourth-quarter loss on Friday, powered by strong holiday demand as Canadians continued to travel despite concerns related to the Omicron variant of the coronavirus and increased restrictions in December.
Canadian carriers are banking on a recent relaxation in the country’s testing requirements for travel to help drive demand this year, after the government urged residents in December to avoid non-essential trips due to the virus.
The December warning was accompanied by additional testing, in a blow to carriers that were counting on increased flying during the key holiday travel season after the country lifted border restrictions in August following a 16-month ban.
The airline’s net loss was C$493 million ($388.10 million), or C$1.38 per share, for the quarter ended Dec. 31, compared with a loss of C$1.16 billion, or C$3.91 per share, a year earlier.
($1 = 1.2703 Canadian dollars)
(Reporting by Aishwarya Nair in Bengaluru; Editing by Vinay Dwivedi)
