Overview

• Net income fell to $186 million in the second quarter from $410 million a year earlier, with adjusted earnings per share declining to 60 cents from 98 cents.
• Adjusted profit missed analysts’ expectation of 72 cents per share, according to LSEG Data & Analytics.
• U.S.-bound seat sales dropped 11%, prompting the airline to shift capacity away from transborder routes.
• Passenger revenue rose 1% to $5.03 billion on a 2.5% capacity increase, with average loads holding at 85%.
• Air Canada reaffirmed its full-year financial guidance issued in May despite the challenging operating environment.