July 31, 2020 / 10:08 AM / 13 days ago

Air Canada posts quarterly loss as COVID-19 hammers demand

July 31 (Reuters) - Air Canada reported a loss for the second quarter on Friday, hit by a plunge in passenger numbers as coronavirus-driven travel restrictions slammed demand.

Canada’s largest carrier said net loss was C$1.75 billion ($1.30 billion), or C$6.44 per share, in the quarter ended June 30, compared with a profit of C$343 million, or C$1.26 per share, a year earlier.

Total revenue plunged 89% to C$527 million. ($1 = 1.3418 Canadian dollars) (Reporting By Allison Lampert in Montreal and Sanjana Shivdas in Bengaluru; Editing by Aditya Soni)

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