logo
Share SHARE
FONT-SIZE Plus   Neg

Air Canada Q1 Loss Widens - Quick Facts

Air Canada (AC_A.TO, AC_B.TO) posted a significantly wider first-quarter net loss of C$210 million or C$0.76 per share, versus year-ago quarter's C$19 million or C$0.07 per share loss. The latest quarter's net loss included foreign exchange gains of C$87 million, a non-cash loss on investments of C$65 million, as well as a liability and corresponding loss from discontinued operations of C$55 million, while the prior year's net loss included foreign exchange gains of C$104 million.

Adjusted net loss per share was C$0.64 in the recent quarter, wider than a loss of C$0.45 in the 2011 first quarter.

However, quarterly operating revenues advanced to C$2.96 billion from C$2.75 billion in the comparable period last year.

On a system capacity growth of 3.1 percent, system passenger revenues rose C$213 million or 9.2 percent for the quarter from the 2011 first quarter, on a 4.8 percent growth in traffic and a 3.3 percent improvement in yield. Passenger revenue per available seat mile or RASM went up 5.0 percent from the previous year, and reflected improvements in all markets.

For the second quarter of 2012, Air Canada expects its system available seat miles or ASM capacity to increase in the range of 0 to 1.0 percent.

Air Canada still expects full-year 2012 system capacity to increase in the range of 0 to 1.5 percent and its domestic capacity to increase in the range of 0 to 1.5percent from 2011.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Computer and printer maker Hewlett-Packard Co. said Thursday after the markets closed that its second quarter profit fell 21% from last year, hurt by lower revenue and costs related to the planned separation of the company. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast. Accounting software maker Intuit reported a plunge in third-quarter profit, hurt by impairment charges, even as results topped Wall Street estimates, driven by growth in small business segment amid a strong tax season. Struggling teen-apparel retailer Aeropostale Inc. (ARO), Thursday said its first-quarter loss narrowed from a year ago, driven largely by stronger margins even as revenues continued to plunge dropped. Nevertheless, the company lost almost one-fifth of its market value in after-hours trade, with the...
comments powered by Disqus
Follow RTT