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
The Bank of Japan expanded its massive quantitative and qualitative easing unexpectedly as policymakers assessed it necessary to achieve the 2 percent inflation target even after a sales tax hike in April. In a 5-4 vote, the Policy Board led by Governor Haruhiko Kuroda decided to raise the monetary base at an annual pace of about JPY 80 trillion. LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that its third quarter loss widened slightly from last year, as higher costs and expenses more than offset a 45% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue. After ending the previous session modestly lower, stocks moved mostly higher over the course of the trading day on Thursday. The gains on the day more than offset yesterday's losses, lifting the major averages to their best closing levels in a month.
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.