The Globe and Mail reports in its Saturday edition that Air Canada swung to a profit in 2023 and posted record revenue as international travel roared back. The Globe's Eric Atkins writes that Air Canada on Friday posted a full-year profit of $2.28-billion, reversing a $1.7-billion loss in 2022 as strong seat sales to foreign destinations signalled Canada's flag carrier has left the pandemic behind. Operating revenues reached almost $22-billion for the year, an increase of 32 per cent that outpaced the 20-per-cent rise in seat capacity. On a per-share basis, profit for 2023 was $5.96, compared with a loss of $4.75 in 2022. Operating expenses rose by 14 per cent in 2023, driven by a 21-per-cent rise in wages and other labour costs. For the fourth quarter, profit rose by 9 per cent to $184-million, or 41 cents a share, from the same period in 2022, while operating revenues increased by 11 per cent. RBC analyst Walter Spracklin said the quarterly results fell short of his and Bay Street's expectations. He pointed to lower margins stemming from higher costs. The airline attributed its strong performance to a range of factors, including the easing of pandemic restrictions and demand for international travel rebounding.