Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeTransportationAirlinesAir Canada cuts outlook after jet fuel cost soars nearly 50%Airline's stock soars on deal to sell $2.5 billion Aeroplan stakeAuthor of the article:Last updated 2 hours ago You can save this article by registering for free here. Or sign-in if you have an account.Air Canada jet fuel expenses in the second quarter were 49 per cent higher than the same period last year. Photo by NICK PROCAYLO/POstmediaAir Canada released a dimmer outlook for full-year earnings on Tuesday as it grapples with surging jet fuel prices in the wake of the Iran war.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorThe country’s largest airline now forecasts adjusted earnings before interest, tax, depreciation and amortization of $2.9 billion to $3.2 billion this year. It suspended guidance in April after the start of the war, but before that predicted Ebitda of $3.35 billion to $3.75 billion.Outgoing chief executive Michael Rousseau said jet fuel expenses in the second quarter were 49 per cent higher than the same period last year.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe airline also disclosed that funds managed by Blackstone Inc. and other investors would pay $2.5 billion for a quarter stake in its loyalty service Aeroplan, confirming a Bloomberg News report from earlier this week.Proceeds from the sale would repay an upcoming $1.2 billion bond maturity, the company said. The investor group included Le Caisse de Depot et Placement du Quebec, PSP Investments and British Columbia Investment Management Corporation.In Tuesday trading, Air Canada shares rose 5.9 per cent in Toronto to close at $27.27, the highest level since June 2021, after the airline was upgraded on the Aeroplan news. The stock is up by more than 40 per cent over the past year.The Montreal-based company in July named Anko van der Werff as CEO following Rousseau’s retirement announcement, and he’s set to start by the end of January 2027.Rousseau sparked public outcry earlier this year when he spoke mostly English in a video sharing condolences for the death of two pilots in New York, one of whom was from the French-speaking province of Quebec.Air Canada’s second-quarter revenue grew 11 per cent year-on-year to $6.27 billion, ahead of an estimated $6.17 billion forecast by analysts in a Bloomberg survey.Despite that, the company swung to an operating loss of $215 million versus $117 million operating income in the previous quarter. Adjusted quarterly Ebitda was $719 million, beating analyst expectations, but down from $909 million a year ago. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. 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