Air Canada revenue down 13.2%

Air Canada revenue down 13.2% - financial/traffic highlights for the three months ended 30-Sep-2009:

• Operating revenue: USD2,495 million, -13.2% year-on-year;
• Operating profit (loss): USD64 million compared to a operating profit of USD105 million in the previous corresponding period;
• Net profit: USD259 million;
• Passenger traffic (RPMs): -2.1%;
• Passenger load factor: 83.5%, +1.0 ppts;
• Passenger revenue per RPM: USD15.8 cents, -11.2%;
• Passenger revenue per ASM: USD13.2 cents, -10.2%;
• Revenue per ASM: USD14.8 cents, -10.3%;
• Cost per ASM: USD14.4 cents, -9.2%;
• Cost per ASM excluding fuel: USD10.6 cents, +4.5% [more]

*Based on the conversion rate at USD1 = CAD1.07

Air Canada: "Air Canada expects its full year 2009 CASM, excluding fuel expense, to exceed the full year 2008 level by 3.0 to 3.5 per cent (as opposed to the full year 2009 CASM (excluding fuel expense) increase of 4.0 to 5.0 per cent previously projected in Air Canada's press release dated 07-Aug-2009). The difference is largely attributable to the fact that certain expenses are expected to be lower than previously projected. These expenses include lower capacity purchase fees paid to Jazz pursuant to the amended capacity purchase agreement which provides for lower mark-ups, and lower aircraft maintenance expense. For the fourth quarter of 2009, Air Canada expects CASM, excluding fuel expense, to decrease from the fourth quarter of 2008 level by 3.0 to 4.0 per cent," Company statement. Source: Air Canada, 06-Nov-2009.