MONTREAL — Air Canada says it had a net income of $186 million in the second quarter, down from $410 million in the same quarter last year, in what it characterized as a “challenging environment.”

The airline says it’s working to navigate macroeconomic uncertainty and geopolitical tensions and has strategically redirected capacity to high-demand markets.

Air Canada says that on an adjusted basis, it had a net income of $207 million in the quarter compared to $369 million in the same quarter last year.

Adjusted earnings worked out to 60 cents per diluted share in the quarter, compared to 98 cents per share last year.

Analysts on average had expected an adjusted profit of 72 cents per diluted share according to LSEG Data & Analytics.

Despite the challenges, the airline reaffirmed its financial guidance for the year that it issued in May.

This report by The Canadian Press was first published July 29, 2025.

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The Canadian Press