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Air Canada operating profit down in 3Q2011

7-Nov-2011 1:36 PM

Air Canada reports (04-Nov-2011) the following financial highlights for the three months ended Sep-2011:

  • Operating revenues: USD3179.6 million, +7.1% year-on-year;
  • Operating costs: USD,914.8 million, +9.3%;
    • Fuel: USD924.9 million, +28.6%;
    • Labour: USD489.4 million, +5.5%;
  • Operating income: USD264.8 million, -11.8%;
  • Net income/loss: (USD122.6 million), compared to a net profit of USD308.9 million in p-c-p;
  • Passenger traffic (RPMs): +3.8%;
  • Passenger load factor: 85.8%, +1.1 ppts;
  • Passenger revenue per RPM: +3.8%;
  • Passenger revenue per ASM: +5.1%;
  • CASM excluding fuel: -0.4%. [more – original PR]

*Based on the conversion rate at USD1 = CAD1.01962

Air Canada: “Taking into account reported ASM capacity for the first nine months of 2011, Air Canada now expects its full year 2011 system capacity, as measured by available seat miles (ASMs), to increase by 4.0 to 4.5% from the full year 2010 level (as opposed to the 3.5 to 4.5% ASM increase projected in Air Canada’s news release dated 04-Aug-2011). In addition, for the full year 2012, Air Canada plans to increase its full year 2012 system capacity by 0 to 1.5% when compared to the full year 2011.” Source: Company statement, 04-Nov-2011.