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Air Canada reports operating profit growth in 3Q2012

9-Nov-2012 3:22 PM

Air Canada revenue up 3% - financial highlights for three months ended 30-Sep-2012:

  • Operating revenue: CAD3328 million (USD3342 million), +2.7% year-on-year;
  • Operating costs: CAD2907 million (USD2919 million), -2.2%;
    • Fuel: CAD963 million (USD967 million), +2.1%;
    • Labour: CAD527 million (USD529 million), +5.6%;
  • Operating profit: CAD421 million (USD422.7 million), +55.9%;
  • Net profit: CAD428 million (USD430 million), compared to a loss of CAD125 million (USD126 million) in p-c-p;
  • Passenger traffic (RPMs): +0.8%;
  • Passenger load factor: 86.3%, +0.5 ppt;
  • Yield: CAD 18.4 cents (USD 18.5 cents), +1.7%;
  • Passenger revenue per ASM: CAD 15.9 cents (USD 16.0 cents), +2.6%;
  • Operating revenue per ASM: CAD 17.7 cents (USD 17.8 cents), +2.9%;
  • Operating cost per ASM: CAD 15.4 cents (USD 15.5 cents), -2.5%;
  • Total assets: CAD9380 million (USD9419 million), -2.6% when compared to period ended 31-Dec-2011;
  • Cash and cash equivalents: CAD841 million (USD845 million), -0.8% when compared to period ended 31-Dec-2011;
  • Total liabilities: CAD13,274 million (USD13,329 million), -2.7% when compared to period ended 31-Dec-2011;
  • 4Q2012 forecast:
    • Capacity (ASMs): stable to +1.0%;
    • Adjusted cost per ASM: -2.0% to -3.0%;
  • FY2012 forecast:
    • Capacity: +0.8% to +1.3%;
      • Domestic: +0.5% to +1.0%;
    • Adjusted cost per ASM: +0.8% to +1.3%. [more – original PR]

Air Canada: "Moreover, in the first nine months of 2012, consistent with our priority of improving our balance sheet, adjusted net debt was reduced by CAD308 million, and our cash levels remained strong at approximately CAD2.2 billion,” Calin Rovinescu, president and CEO. Source: Company statement, 08-Nov-2012.