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Air Canada said that it now expects to make between $2.9 billion and $3.1 billion in adjusted EBITDA for the full year. This is in comparison the the airline’s previous 2025 guidance that it suspended in August, which had projected adjusted EBITDA between $3.2 billion and $3.6 billion. 

For the third quarter, Air Canada said it expects operated capacity to decline by around two per cent from the same period last year, due to the cancellation of more than 3,200 flights. It also expects operating income between $250 million and $300 million during the quarter. 

The airline said three factors combined for the $375 million financial impact of the strike. The first is an estimated $430 revenue hit from refunds, customer compensation and lower travel bookings. It also had about $90 million in incremental costs associated with reimbursements for customers and some labour operating costs.

However, the company also saved $145 million, primarily due to lower fuel costs, which reduced the loss. 

The Air Canada flight attendant strike lasted three days and ended on Aug. 19, though it took longer to ramp up to full operations. 

Earlier this month, Air Canada flight attendants massively rejected the employer’s wage offer, with the airline saying the wage portion will now be referred to mediation as previously agreed to by both sides.

The tentative deal that was voted down raised wages for workers and established a pay structure for time worked when aircraft are on the ground.

This report by The Canadian Press was first published Sept. 24, 2025.

Companies in this story: (TSX:AC)