Air Transport World

Canada. (airline industry report)

Air Canada: After suffering its first loss in six years in 1982, the Canadian flag carrier returned to marginal profitability in 1983 as the result of stringent cost-cutting and other measures, reporting a net profit of just under $3 million for a turnaround of $28 million from the year before. The 1983 operating profit of $22 million represented a $42-million turnaround--and the 1982 operating loss of $20 million would have been $49 million except for a fuel credit and a revision in aircraft depreciation schedules.

Both revenues and expenses declined in 1983 for the first time in Air Canada's history, with revenues dipping 0.3% to $1.79 billion and expenses falling 2.6% to $1.77 billion. …

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