Air Transport World

Air Canada.(North America report)(reports second quarter financial results)(Brief Article)

Air Canada, battered by the SARS outbreak in Toronto, the war in Iraq and expenses associated with its financial restructuring, reported a loss of C$566 million ($405.4 million) for the second quarter, reversing a profit of C$30 million last year. The loss included C$426 million in pretax reorganization charges. Operating revenues fell 23.5% while operating expenses declined 10.8% to C$2.22 billion. As a result, operating loss before reorganization items totaled C$270 million, down from operating income of C$62 million in 2002.

For the six months ended June 30, AC reported a net loss of C$836 million, widened from a net loss of C$189 million last year. …

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