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9-Aug-2012 1:38 PM

Air Canada operating profit down 14% in 2Q2012

Air Canada revenue up 2% – financial highlights:

  • Three months ended 30-Jun-2012:
    • Operating revenue: CAD2989 million (USD2960 million), +2.4% year-on-year;
    • Operating costs: CAD2926 million (USD2898 million), +3%;
      • Fuel: CAD888 million (USD879 million), +1%;
      • Labour: CAD517 million (USD512 million), +7%;
    • Operating profit: CAD63 million (USD62.4 million), -13.7%;
    • Net profit (loss): (CAD96 million) (USD95.1 million), compared to a loss of CAD46 million (USD45.6 million) in p-c-p;
    • Passenger numbers: 8.6 million, +1.2%;
    • Passenger load factor: 83.5%, +0.7 ppt;
    • Passenger yield: CAD 19.0 cents (USD 18.8 cents), +1.2%;
    • Passenger revenue per ASM: CAD 15.9 cents (USD 15.7 cents), +2.0%;
    • Operating revenue per ASM: CAD 18.0 cents (USD 17.8 cents), +1.9%;
    • Operating costs per ASM: CAD 17.6 cents (USD 17.4 cents), +2.3%;
  • Six months ended 30-Jun-2012:
    • Operating revenue: CAD5951 million (USD5893 million), +4.9%;
    • Operating costs: CAD5981 million (USD5923 million), +6%;
      • Fuel: CAD1777 million (USD1760 million), +9%;
      • Labour: CAD1053 million (USD1043 million), +6%;
    • Operating profit (loss): (CAD30 million) (USD29.7 million), compared t a profit of CAD7 million (USD6.9 million) in p-c-p;
    • Net profit (loss): (CAD306 million) (USD303 million), compared to a loss of CAD65 million (USD64.4 million) in p-c-p;
    • Passenger numbers: 16.9 million, +3.0%;
    • Passenger load factor: 81.4%, +1.0 ppt;
    • Passenger yield: CAD 19.1 cents (USD 18.9 cents), +2.2%;
    • Passenger revenue per ASM: CAD 15.6 cents (USD 15.4 cents), +3.4%;
    • Operating revenue per ASM: CAD 18.1 cents (USD 17.9 cents), +3.1%;
    • Operating costs per ASM: CAD 18.2 cents (USD 18.0 cents), +3.7%;
    • Total assets: CAD9622 million (USD9529 million), -0.1% when compared to period ended 31-Dec-2011;
    • Cash, cash equivalents and short-term investments: CAD2383 million (USD2360 million), +13.5% when compared to period ended 31-Dec-2011;
    • Total liabilities: CAD13,909 million (USD13,774 million), +2.0% when compared to period ended 31-Dec-2011;
  • 3Q2012 forecast:
    • Capacity (ASMs): stable to +1.0%;
    • Cost per ASM excl fuel and cost of ground packages at Air Canada Vacations: +1.0% to +2.0%;
  • FY2012 forecast:
    • Capacity (ASMs): +0.5% to +1.5%;
      • Domestic: +0.5% to +1.5%;
    • Cost per ASM excl fuel and cost of ground packages at Air Canada Vacations: +0.5% to +1.5%. [more – original PR]

*Based on the average conversion rate at USD1 = CAD1.0098 for the period

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