Montreal-based Air Canada reported on Friday that it incurred a net loss of $508 million in the third quarter as operational issues continued to hamper the country's main airline.

CEO Michael Rousseau said in a press statement: "The operation is now on a better trajectory than before the pandemic, but we still know that many customers experienced travel disruptions this summer and we sincerely apologize for any inconvenience caused. Rousseau also alluded to the chaos that accompanied the airline's attempt to operate its first normal schedule since the pandemic: "We would like to thank our customers for their understanding and loyalty and assure them that the lessons learned from this operationally difficult period are now being applied to build greater resilience capacity in the future and improve the overall customer experience."

Their earnings for the three months ending September 30, 2022: revenues reached $5.3 billion in the third quarter compared to $2.1 billion in the same quarter last year. The diluted net loss per share was $1.42 per share compared to $1.79 per share in the same quarter last year.

The company posted a profit of $1.06 billion in the first quarter, which is better than the EBITDA loss of $67 million in the first quarter last year. Rousseau said in a conference call with analysts: The airline plans to add new summer routes, reinstate previously suspended routes, and continue to grow its fleet. Air Canada is still adjusting its schedule for next year but "we like where we are now".

Chief Commercial Officer Lucie Guillemet said: The operating environment at the airline has improved significantly since the pandemic. "Many customers are eager to return to travel."

Analysts pointed out that the airline may lose customers if it tries to offset rising fuel costs by raising ticket prices. CFO Amos Kazaz said: Fuel costs at the airline in the third quarter increased by 80 percent compared to the same period last year.

Air Canada saw its operating revenues increase more than fivefold this summer as travel returned to pre-pandemic levels. But without sufficient resources, the carrier struggled to keep up with the surge in demand. The airline cut 15 percent of its summer schedule to focus on rebuilding capacity.

The company faced a wave of press criticism related to flight changes and lost luggage, which continued into the third quarter. Air Canada recently apologized for preventing a visually impaired woman from flying with her guide dog, an experience she described as "humiliating." In another incident, the company damaged the woman's $30,000 wheelchair, and it took two months to approve its replacement. While Alberta Bridge burns halt grain shipments, another man’s property worth $1,000 was destroyed when his bag got stuck on a conveyor belt. Air Canada agreed to compensate him with $180 and a 15 percent discount voucher for his next flight. Only after the incident received media coverage did the airline agree to compensate him $1,190 and offer a $300 voucher for his next flight.

However, the company has taken a few steps forward, recently posting job ads for flight attendants in Toronto, Calgary, and Vancouver, and announcing its acquisition of 15 Airbus A220-300 aircraft, built in Mirabel, Quebec. The company also awarded eight scholarships to Canadian women studying to become commercial pilots or maintenance engineers in partnership with Montreal-based CAE Inc.

Edited by: Yusra Bamtarf