Air Transport World

Air Canada.

Air Canada managed to eke out a C$3 million ($2.1 million) profit in the quarter ended March 31, improved over a loss of C$26 million in the year-ago period (see table). But the net profit was entirely owing to gains on the sale of 35% of its interest in Equant (C$30 million after tax) and repurchase of yen debt (C$8 million), without which it would have reported a loss for the period. Although operating revenues rose 4.1%, expenses climbed 4.4% and Air Canada posted an operating loss of C$1 million.

At the unit level, yield rose a healthy 5.8% on flat RPM growth. sending RASM up 7.8%, but CASM rose 8.8% on 2% fewer ASMs.

Separately, Vice Chairman and CEO R. Lamar Durrett called for a halt to "spiraling' airport and navigation charges that have doubled since 1997. …

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