Air Canada (AC_A.TO: Quote,AC_B.TO: Quote) posted second-quarter net loss of C$96 million or C$0.35 per share versus loss of C$46 million or C$0.17 per share a year ago.
Adjusted net loss per share was C$0.05, wider than C$0.01 in the same quarter last year.
Operating revenues grew to C$2.99 billion from C$2.92 billion in the comparable period a year ago.
"We reported passenger revenue growth of 3.3 per cent in the quarter on traffic growth and an overall yield improvement. Our Pacific performance was especially strong, with a revenue increase of 18.5 per cent year-over-year," said Calin Rovinescu, President and Chief Executive Officer.
"….As previously reported, Air Canada's operations were adversely impacted by labour disruptions in March and April of 2012 which resulted in a decline in bookings for travel originating in Canada in the immediate aftermath...
Capacity and, as a result, passenger revenues were also negatively affected by aircraft scheduling changes due to the closure by Aveos of its maintenance, repair and overhaul (MRO) facilities in Canada. We estimate that the combined impact of the labour disruptions and the slight reduction in capacity stemming from the Aveos closure resulted in a reduction of $0.12 to $0.17 to earnings per diluted share in the second quarter 2012..."
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by RTT Staff Writer
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