Air Canada says low loonie not de­ter­ring Cana­di­ans from trav­el­ling to U.S. des­ti­na­tions

The Hamilton Spectator - - BUSINESS - ROSS MAROWITS

The rel­a­tively low value of the loonie isn’t de­ter­ring Cana­di­ans from trav­el­ling to the United States, espe­cially to win­ter va­ca­tion spots in Florida, Ari­zona and Hawaii, Air Canada said Fri­day.

Trans­bor­der rev­enues in­creased 7.2 per cent last year to $2.89 bil­lion, a sign that Cana­di­ans are in­creas- in­gly head­ing south, said Ben Smith, of pas­sen­ger ser­vices.

“The de­mand is hold­ing up quite nicely de­spite the lower Cana­dian dol­lar,” Smith told an­a­lysts dur­ing a dis­cus­sion of its fourth-quar­ter and 2016 re­sults. That kind of de­mand wasn’t seen in the past when the loonie was low, he added.

In his re­sponse, Smith avoided an an­a­lyst’s ques­tion about whether heated po­lit­i­cal rhetoric in the U.S. has in­creased book­ings to Canada.

Over the past year, the Cana­dian dol­lar has traded be­tween the 72cent and 79-cent US mark. Trans­bor­der traf­fic at Air Canada be­tween the U.S. and Canada grew 13 per cent in that time.

Air Canada’s full-year rev­enue in­creased to $14.68 bil­lion from $13.87 bil­lion in 2015.

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