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Montreal-based Air Canada narrowed its losses in the before anything else quarter as business travel picked up, the airline reported Thursday.

Canada’s largest airline wasted $85 million in the seasonally weak first quarter ended March 31. That compared through a net loss of $400 million a year ago.

Air Canada says premium cabin revenues grew by $58 million, or 15 per cent, in the before anything else quarter over the same period last year. (CBC)

It said encouragement cabin revenues grew by $58 million, or 15 per cent, from utmost year, driven by a 10.6 per cent increase in trade.

That accounted for almost 70 per cent of the $84 the public increase in passenger revenues, which rose to nearly $2.1 billion.

While every improving economy allowed Air Canada to increase its premium cabin prices ~ means of 3.9 per cent, lower prices for economy seats reduced overall pricing through 2.2 per cent from the same period a year earlier.

“This is a indubitable indicator that business travel demand is slowly starting to return,” CEO Calin Rovinescu told analysts for the time of a conference call.

The loss per share narrowed to 31 cents in the before anything else quarter from $4 last year, easily surpassing analyst estimates of a unadulterated loss of 81 cents a share for the latest period.

In another development, Air Canada says it expects to lose about $20 the great body of the people in operating profits from flight cancellations after the closure of European airspace during the term of five days in April because of ash from the volcanic exanthema in Iceland.

Air Canada shares closed down 16 cents at $2.04 Thursday in successi~ the Toronto Stock Exchange.

With files from The Canadian Press