07:06 AM EDT, 08/07/2024 (MT Newswires) -- Air Canada ( ACDVF ) on Wednesday reported lower second-quarter profit, while revenue grew slightly.

The Canadian carrier reported an adjusted profit, which excludes most one-time items, of $369 million, or $0.98 per diluted share, down from $664 million, or $1.85 per diluted share last year.

Operating revenue of $5.5 billion was 2% higher than the prior year's $5.43 billion.

The airline said capacity increased 6.5% in the quarter, while adjusted unit cost of $0.1353 increased 1.7%, driven by labor, maintenance and information technology expenses.

In the third quarter, Air Canada ( ACDVF ) aims to increase its air seat miles capacity by between 4% and 4.5% from the same quarter last year. It reaffirmed its previously lowered capacity targets for the year, which now stand at 5.5% to 6.5% growth.