Air Canada generated the best results in its history in 2014 with net income growing 56 per cent to C$531m ($422.7m).
Described by the airline as a “breakout year”, Air Canada saw net income increase by C$105m ($83.6m) in the year ending December 31.
Air Canada revenues grew 7.1 per cent and rose to C$13.3bn ($10.5bn) in the same period.
The airline also carried a record 38.5 million passengers while ancillary revenues increased by 10 per cent.
Air Canada’s positive results come despite it making a C$100m ($79.16m) loss in Q4 2014, which it said was down to currency fluctuations.