Air Canada is lowering its financial forecast for the year as travellers shy away from trips to the United States.
The country’s largest airline says it expects adjusted earnings of between $3.2 billion and $3.6 billion in 2025 versus the $3.4 billion to $3.8 billion range laid out earlier this year.
The Montreal-based company is reporting a net loss for the three months ended March 31 of $102 million compared with a loss of $81 million in the same period a year earlier.
Air Canada says first-quarter revenues dipped to $5.20 billion from $5.23 billion the year before.
On an adjusted basis, the airline says it lost 45 cents per diluted share last quarter versus a loss of 27 cents per diluted share a year earlier, beating analysts’ expectations.
Air Canada cut flight capacity to the U.S. over the past two months amid fallout from the tariff war, as Canadians cancelled trips and booked flights to spots outside America.
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