Thursday, May 11, 2017

Air Canada - AC.t

Air Canada - AC.t is the flag carrier and largest airline in Canada. The airline, founded in 1936, provides scheduled and charter air transport for over 38 million passengers annually and provides direct passenger service to more than 190 destinations on five continents.

It is the world's ninth-largest passenger airline by number of destinations. Air Canada had passenger revenues of $13.8 billion in 2015.

On May 5, 2017 the company released Numbers

Air Canada today reported first quarter 2017 EBITDAR(1) (earnings before interest, taxes, depreciation, amortization, impairment and aircraft rent), excluding special items, of $342 million, compared to first quarter 2016 EBITDAR of $460 million. The airline recorded a first quarter EBITDAR margin of 9.4 per cent, better than the margin projected in Air Canada's February 17, 2017 news release. The better than expected EBITDAR margin performance was primarily driven by a first quarter revenue environment that was more robust than anticipated, lower than forecasted aircraft maintenance expense largely due to a deferral of maintenance activities, and lower than anticipated jet fuel prices. On a GAAP basis, Air Canada reported an operating loss of $54 million in the first quarter of 2017 versus operating income of $154 million in the first quarter of 2016.