Air Canada planning to increase 3Q2021 ASM capacity by 85%

Air Canada announced (23-Jul-2021) it plans to increase its 3Q2021 ASM capacity from the same quarter in 2020 by around 85%. In 3Q2021, when compared to the same period in 2019, ASM capacity is expected to decrease by around 65%. The carrier projects a net cash burn of CAD280 million (USD222.6 million) to CAD460 million (USD365.6 million) in 3Q2021. The net cash burn projection includes CAD2 million (USD1.6 million) per day in capital expenditures, net of financing, and CAD4 million (USD3.2 million) per day in lease and debt service costs. The net cash burn projection for 3Q2021 excludes the remaining amount of expected eligible refunds of non refundable fares being processed pursuant to the change in refund policy announced on 12-Apr-2021. [more - original PR]