Air Canada reports loss in first quarter [Video]

MONTREAL –

Canadian airlines have enjoyed a two-year boom amid consumer hunger for post-pandemic travel. But as that pent-up demand recedes, the country’s largest carrier hopes to ramp up ticket sales to corporate customers instead.

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Until recently, the travel surge that followed COVID-19 restrictions failed to reach the business world, where pandemic habits of video conferencing and remote work proved tough to shake.

But Air Canada, which reported a first-quarter earnings loss on Thursday — and suffered a 10 per cent share price drop — perceives signs of a shift.

“In Q1 it was relatively stable. We didn’t see a big growth, as some of our American peers did,” said Mark Galardo, head of revenue and network planning, referring to business travel.

“But as we look late into the quarter and into Q2, we’re starting to see some very encouraging signals on corporate demand — to the tune of almost 10 to …