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Air Canada expects operating loss in 1Q2013, updates full year 2013 guidance

23-Apr-2013 3:03 PM

Air Canada reports (22-Apr-2013) the following preliminary financial* highlights for the 3 months ended Mar-2013:

  • EBITDAR: CAD145 million (USD143.9 million), -16.7% year-on-year;
  • Operating loss: (CAD106 million) (USD105.2 million), compared to a loss of CAD91 million (USD90.3 million) in p-c-p;
  • Net loss: (CAD260 million) (USD258 million), compared to a loss of CAD274 million (USD271.9 million) in p-c-p;
  • RASM: +1.1%;
  • CASM^: +1.4%;
  • Capacity (ASMs): -1.1%;
  • 2013 outlook:
    • Capacity (ASMs): Increase 1.5% to 2.5%;
      • Canada (ASMs): Increase 0.5% to +1.5%;
    • CASM^: Decrease 0.5% to 1.5%. [more – original PR]

*Based on the average conversion rate at USD1 = CAD1.0077
^excludes fuel expense, the cost of ground packages at Air Canada Vacations and unusual items (such as impairment charges)

Air Canada: “In the first quarter of 2013, Air Canada's financial results were negatively impacted by an estimated CAD10 million due to flight cancellations caused by severe weather conditions and operational challenges at the airline's major Canadian airport hubs, as well as aircraft deicing service delays at Toronto Pearson International Airport. A higher proportion of leisure passengers versus business passengers, in part due to a shift of the Easter holiday, and an unfavourable foreign currency impact on passenger revenues also contributed to the lower operating results year-over-year.” Source: Company statement, 22-Apr-2013.