12:48 PM EST, 11/15/2024 (MT Newswires) -- National Bank notes that Canadian airlines' total scheduled capacity to Mexico, the Caribbean and Central America from Canada is down 0.3% year on year, and 20.3% higher than 2018-19.

Citing OAG data, National Bank analyst Cameron Doerksen says Air Canada's ( ACDVF ) capacity is scheduled to be up 5.7% y/y while Transat's is up 0.7% y/y. Capacity to Florida is up once again with total seats increasing 7.1% y/y after being up 14.6% y/y last winter.

A significant increase in sun destination capacity last winter put downward pressure on yields, but with capacity set to be more rationale this winter, there could be a more supportive yield environment. A weaker loonie will be a cost headwind for the airlines, but with spot prices currently well below the average price last winter, jet fuel should be a cost tailwind this winter.

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