Air Canada presented its expansion plan during Investor Day 2024, projecting over a dozen new international destinations in the coming years. This growth will be driven by the addition of four aircraft models to its fleet: Airbus A220, Boeing 787-10, Boeing 737 MAX, and especially, the A321neo XLR.
The Canadian airline aims to strengthen its operations through its three main hubs: Toronto, Montreal, and Vancouver, with the goal of reaching 30 billion Canadian dollars in annual revenue and improving profitability by 2030. According to the company, the strategy includes revenue growth of 7-8% annually, supported by an increase in capacity (ASMs) of 5-6% annually.
Air Canada has diversified its market across the three hubs, with Toronto established as its global hub, Montreal leading in transatlantic routes, and Vancouver specializing in transpacific connections. The airline’s capacity is distributed as follows: 21% for domestic routes, 34% for the Atlantic, 16% for the Pacific, and 10% for Latin America and Caribbean markets.
New destinations in Latin America
As part of its growth plan, Latin America is a key focus within the expansion strategy, with eight new destinations.
Among its priorities is Lima (LIM, Peru; a destination it previously operated before the pandemic and is currently served by Air Transat from Toronto and Montreal. The company plans to relaunch the route using the Airbus A321neo XLR.
Another new country is Guyana, with non-stop flights between Toronto and Georgetown/Cheddi Jagan (GEO), aiming to capitalize on the region’s economic boom. The company plans to launch this route using Boeing 737 MAX 8 aircraft, operated by its subsidiary Air Canada Rouge. Finally, it also plans to enter El Salvador (SAL), currently connected to Canada through its commercial partners Air Transat and Avianca.
After entering Monterrey (MTY) as a seasonal route, the airline has set its sights on Guadalajara (GDL), Mexico’s second-largest city, with the A220-300. Through its Rouge subsidiary, it plans to add Acapulco (ACA) to its network, joining its other seven vacation destinations in Mexico: Cancun, Cozumel, Huatulco, Ixtapa/Zihuatanejo, Puerto Vallarta, San José del Cabo, and Tulum.
A new vacation destination on its network will be Cartagena (CTG, Colombia, which in recent weeks has progressed on the project for a new airport that will increase the number of arrivals to the city on the Caribbean coast.
Finally, Air Canada plans to launch two new destinations in Brazil, including resuming flights to Rio de Janeiro/Galeao (GIG), which it operated until 2016, and entering Fortaleza (FOR) in northeastern Brazil. Both routes will focus on meeting the demand of Canadian tourists in the South American country.
