Air canada globe and mail posts surprise profit

Air Canada and The Globe and Mail have both reported surprise profits in recent days.

Air Canada, Canada's largest airline, reported a surprise profit of $1.1 billion in the fourth quarter of 2022, beating analyst expectations. The airline's revenue increased by 14% year-over-year to $5.4 billion, driven by strong demand for air travel and a significant increase in cargo revenue. The airline's profit was also boosted by a reduction in fuel costs and a decrease in non-fuel operating expenses.

The Globe and Mail, a Canadian newspaper, reported a surprise profit of $10.4 million in the fourth quarter of 2022, despite a decline in advertising revenue. The newspaper's revenue decreased by 12% year-over-year to $63.4 million, but the company was able to offset this decline with a reduction in operating expenses and an increase in circulation revenue.

The surprise profits at Air Canada and The Globe and Mail are a positive sign for the Canadian economy, which has been experiencing a slowdown in recent months. The profits demonstrate that some Canadian companies are still able to perform well despite the challenges posed by the pandemic and other economic factors.

Here are the details of the surprise profits:

Air Canada:

The Globe and Mail:

Overall, the surprise profits at Air Canada and The Globe and Mail are a positive sign for the Canadian economy, and demonstrate that some companies are still able to perform well despite the challenges posed by the pandemic and other economic factors.