Air Canada 2Q2009 revenue down 16.2%

Air Canada revenue down 16.2% - financial highlights:

• Three months ended 30-Jun-2009:
  • Operating revenue: USD2,154 million, -16.2% year-on-year;
  • Operating profit (loss): (USD104.6 million), compared to a profit of USD6.5 million in the previous corresponding period;
  • Net profit: USD143.5 million, -27.0%;
  • Passenger traffic (RPMs): -7.9%;
  • Passenger load factor: 80.5%, -2.2 ppts;
  • Passenger revenue per RPM: USD16.0 cents, -8.9%;
  • Passenger revenue per ASM: USD12.9 cents, -11.3%;
  • Revenue per ASM: USD 14.6 cents, -11.4%;
  • Cost per ASM: USD 15.4 cents, -7.0%;
  • Cost per ASM excluding fuel: USD 11.8 cents, +2.6%;
• Six months ended 30-Jun-2009:
  • Revenue: USD4,371 million, -14.3%;
  • Operating profit (loss): (USD278.7 million), compared to a loss of USD120.4 million in the previous corresponding period;
  • Net profit (loss): (USD226.9 million), compared to a loss of USD153.7 million in the previous corresponding period;
  • Passenger traffic (RPMs): -9.4%;
  • Passenger load factor: 80.0%, -1.4 ppt;
  • Passenger revenue per RPM: USD 16.5 cents, -5.8%;
  • Passenger revenue per ASM: USD 13.1 cents, -7.3%;
  • Revenue per ASM: USD 15.3 cents, +7.0%;
  • Cost per ASM: USD 16.3 cents, -1.2%;
  • Cost per ASM excluding costs: USD 12.5 cents, +5.9%.
• *Based on the conversion rate at USD1 = CAD1.08

Air Canada: "Air Canada expects its full year 2009 CASM, excluding fuel expense, to increase between 4.0% and 5.0% compared to the full year 2008 (as opposed to the full year 2009 CASM (excluding fuel expense) increase of between 5.5% and 6.5% previously projected in Air Canada's press release dated 08-May-2009). The difference is largely attributable to a stronger Canadian dollar versus the USD and its impact on US denominated expenses. For the third quarter of 2009, Air Canada expects CASM, excluding fuel expense, to increase between 5.5% and 6.5% compared to the third quarter of 2008," Company statement. Source: Air Canada, 07-Aug-2009.