Air Transport World

Air Canada.(finances)(Brief Article)(Statistical Data Included)

Air Canada reported record operating income of C$169 million for its second quarter ended-June 30 and said that excluding one-time gains, net income rose byC$5 million compared to the year-ago period, to C$73 million ($49.5 million). Vice Chairman and CEO R. Lamar Durrett, who announced his retirement effective Aug. 31, said the record operating income was "driven primarily by strong revenue performance,' but added that "we are still faced with the challenge of bringing costs in line with competitive industry levels."

Total revenues rose 3.4% in the quarter while passenger revenues climbed 5%, reflecting a 6.2% rise in yield/RPM on a 2,4% decline in RPMs. The airline warned that third-quarter performance would be hurt by the threat of a flight attendant strike that did not materialize and estimated the impact at around C$30 million before taxes. …

Log in to your account to read this article – and millions more.