MONTREAL- Canadian flag carrier, Air Canada (AC), has announced a comprehensive fleet modernization plan that includes a surprising return of the Boeing 767 to passenger service.
The airline, which previously retired its 767-300ER fleet in 2020, plans to reintegrate two of these aircraft by 2025, marking a strategic shift in its fleet composition, flagged Ishrion A.
Air Canada Boeing 767
Both these aircraft are parked at John C. Munro Hamilton International Airport (YHM), they are registered as C-FOCA and C-GLCA. These aircraft are more than 33 years old.
The carrier’s five-year fleet expansion strategy reveals plans to acquire 90 new aircraft between 2024 and 2029.
This substantial growth includes a diverse mix of wide and narrow-body aircraft, demonstrating Air Canada’s commitment to route network optimization and operational efficiency.
Breaking down the incoming fleet additions:
- 30 Airbus A321XLR aircraft, with the majority (28) arriving between 2026-2029
- 27 Airbus A220 aircraft, with deliveries spread across the timeline
- 18 Boeing 787-10 aircraft, scheduled for delivery in the 2026-2029 period
- 12 Boeing 737 MAX aircraft, to be delivered by 2025
- 2 Boeing 767-300ER aircraft, planned for 2025
- 1 Boeing 787-9, expected in 2025
This comprehensive fleet strategy positions Air Canada for sustainable growth while maintaining operational flexibility across its domestic, US, and international routes.
2023 Fleet Update
The airline’s financial position has shown remarkable improvement, with its leverage ratio decreasing significantly from 5.1 to 1.1 between December 2022 and December 2023. Air Canada maintained a robust liquidity position of $10.3 billion at the end of 2023, representing a $500 million increase from the previous year.
In a strategic financial move, the airline prepaid approximately $1.3 billion of outstanding debt, including financing for 33 Airbus A220 and five Boeing 787-8 aircraft. This decision has strengthened Air Canada’s unencumbered asset pool, which reached an estimated value of $6.6 billion by the end of 2023, excluding the value of its Aeroplan loyalty program.
The year 2023 proved productive for fleet expansion. Air Canada added 12 aircraft to its operating fleet, evenly split between six wide-body aircraft (including two freighters) and six narrow-body aircraft.
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