Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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.

Register
To receive FREE breaking news email alerts for Air Canada Cl A VV and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
After moving notably higher in early trading on Tuesday, stocks continued to perform well throughout the session. The gains on the day offset the modest weakness that was seen in the previous session, extending the recent back-and-forth movement by the markets. Two federal appeals courts have issued contradictory rulings over the federal government's ability to provide subsidies under Obamacare, suggesting that the future of President Barack Obama's healthcare law could once again end up in the hands of the U.S. Supreme Court. A majority of Americans believe Israel is justified in taking military action against Gaza, according to the results of a new CNN/ORC International survey, although opinions about the amount of military force the Israelis have used are more divided.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.