Air Canada (TSE:AC) is an integrated air carrier and Canada’s largest for both passengers and freight. The company is also a flag carrier of Canada which gives it special privileges in domestic markets. The company was founded in 1936 as the Trans-Canadian Airline by the Canadian Government and made its first commercial flight in 1938. The airline was renamed Air Canada following government approval and it operated as a government entity until the early 1980s.
Air Canada went private in 1988 following the deregulation of the air industry and in 2000 it grew to dominate the Canadian market by acquiring its largest competitor, Canadian Airlines. 2003 brought major change to the business that ultimately leads to its IPO. Air Canada was forced to file for bankruptcy protection but emerged as a stronger company under the umbrella of ACE Aviation Holdings. ACE Aviation Holdings is a holding company formed to help take Air Canada out of bankruptcy and has since been dissolved. Air Canada went public in 2007 and is listed on the Toronto Stock Exchange.
Headquartered in Saint-Laurent, Canada, Air Canada is an international air carrier serving 222 destinations worldwide. The company’s fleet consisted of 191 aircraft that are primarily Airbus and Boeing-branded airplanes. The fleet consists of Airbus 330s and Boeing 787 Dreamliners for long-haul flights and a variety of Airbus 320 and Boeing 737 and other models for short-haul destinations. The average age of the fleet in late 2022 was 10.6 years compared to the average lifespan of 30 years which makes it a very young fleet.
The company’s primary brand is Air Canada but it is rounded out by a network of smaller businesses. The company, and its subsidiaries, provide full-service and discount airline service for domestic and international markets. The company operates out of 4 key airports including Montreal-Trudeau International Airport, Toronto-Pearson International Airport, Calgary International Airport and Vancouver International Airport. The company carried more than 51.5 million passengers in 2019 to set a company record but traffic has fallen off in the wake of the pandemic. The company carried only 13.2 million in 2021 but the figure was bouncing back strongly in 2022.
Consumers are able to access Air Canada’s offerings via the Internet or mobile. Consumers can not only view schedules but book flights, rent cars, reserve hotel rooms and check in for their flights. The company also offers a variety of branded credit cards, loyalty programs and other features. Air Canada Cargo, the shipping arm of the company, is a full-service operator capable of shipping all cargo including large animals.
