Air Canada says fuel costs spiked 49% from last year, with travel demand up

Air Canada said it spent 49 per cent more on aircraft fuel compared to a year ago while demand for air travel boosted its overall revenue.

At the same time, the company says it plans to sell a quarter of its Aeroplan loyalty program.

Full details were shared Tuesday in the air carrier’s earnings for its fiscal second quarter.

“Air Canada delivered record second-quarter operating revenues, up 11 per cent year over year, supported by strong demand across our network,” said Michael Rousseau, president and CEO of Air Canada, in a statement.

The report showed Air Canada’s fuel costs totalled just over $1.7 billion in the three months leading up...