The Globe and Mail reports in its Saturday edition that Air Canada hiked its earnings outlook Thursday, saying it expects earnings to rise owing to an improvement in traffic as well as stronger-than-expected demand and lower-than-expected fuel prices. A Canadian Press dispatch to The Globe quotes the Montreal-based airline saying that adjusted earnings before interest, taxes, depreciation and amortization in 2023 are expected to come in between $3.5-billion and $4-billion, up from between the guidance of $2.5-billion and $3-billion released Feb. 17. The company says its outlook assumes moderate Canadian GDP growth for 2023, as well as the Canadian dollar trading on average at $1.34 per U.S. dollar, and a $1.09-per-litre average jet fuel price. The airline is releasing its results for the first quarter of 2023 on May 12. Air Canada closed Friday at $20.46, up $2.12 on the Toronto Stock Exchange.