Air Canada recently released its first-quarter 2022 financial results, where it made significant announcements about the future of the company’s cargo and passenger aircraft fleet.

Cargo fleet growth

The Canadian flag carrier will expand its cargo subsidiary’s fleet with the addition of two new Boeing 767-300F aircraft to be delivered directly from the factory in 2022.

Air Canada’s cargo program is one of the carrier’s most successful where it generated revenues of $398 million up 42% over the same quarter in 2021.

With the closure of Air Canada Rouge’s long-haul operations, the carrier undertook the conversion of several Boeing 767-300ERs from passenger to freighter to meet growing cargo demand. In December 2021, the airline introduced its first 767-300BDSF and expects to receive another 7 aircraft in the next 12 – 18 months.

Air Canada Cargo currently operates flights to Latin America from its hub in Toronto (YYZ) and expects to expand in May to Halifax (YHZ) and Europe, expanding to global cargo hubs such as Frankfurt and Istanbul.

The Boeing 767-300F has 458 cubic meters of available cargo volume, can carry approximately 58 tons of payload and has a range of 6,025 kilometers.

See also: Air Canada Cargo to begin operating transatlantic flights

More passenger aircraft

Air Canada is increasing its Airbus A321XLR order from 26 to 30 units, to be delivered between 2024 and 2027, and has recently signed a contract with Aero Engines, LLC (Pratt & Whitney) for PW 1100G-JM engine selection.

In widebody aircraft, the Canadian airline exercises the option for three Boeing 787-9 Dreamliners to be delivered between 2023 and 2024.

«We are responding to the evolving competitive landscape through our Rise Higher strategy to elevate all aspects of our business, particularly as it relates to the customer experience. Given the pent-up demand for travel, the demonstrated loyalty of our customers and the expected further elimination of travel-related government restrictions,» said Michael Rousseau, Air Canada’s president and chief executive officer.

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