Air Canada remains profitable
August 8, 2005
Air Canada has continued its impressive return to profitability with the announcement of a second quarter net income of A$179.5 million.
Figures from the same period last year showed a stark contrast, as a net loss of A$544 million was reported at the time, however the figure included costs associated with restructuring and reorganisation at that time.
The latest results show an increase of A$165.4 million in operating income over the second quarter of 2004, despite surging fuel prices increasing by 42 per cent over the period.
Also on the rise is the airline's operating revenue up $253million, or 11 per cent, representing a significant increase in passenger revenues.
"The continuing profitability of Air Canada is proof positive of the benefits of the massive restructuring of the airline, as uncomfortable as it may have been at the time,” said Ms Foster.
“Air Canada now has one of the strongest balance sheets in the airline industry.
“Looking forward, the revenue picture is expected to continue to strengthen as we increase capacity in North American markets with large, new regional aircraft deliveries.
“The increasing yields and record traffic achieved throughout the quarter reflect a healthier market environment, not only in Canada but around the world, combined with a very positive customer response to the enhanced Air Canada product.”
The carrier is expecting the strong revenue to continue into the last six months of its financial year.
FlyForLess is not affiliated with any media companies nor does it represent or work for Air Canada. This article is published with the sole purpose of making information available for those who wish to stay informed on Air Canada's actualities.