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11-Feb-2010 4:02 PM

Air Canada revenue down 6.0%, losses narrow in 4Q2009

Air Canada revenue down 6.0% - financial*/traffic highlights:

  • Three months ended 31-Dec-2009:
    • Operating revenue: USD2,194 million, -6.0% year-on-year;
    • Operating costs: USD2,272 million, -8%;
      • Fuel: USD561.7 million, -24%;
      • Labour: USD390.7 million, -6%;
    • Operating profit (loss): (USD77.6 million), compared to a loss of USD136.4 million in the previous corresponding period;
    • Net profit (loss): (USD52.3 million), compared to a loss of USD679.4 million in the previous corresponding period;
    • Passenger traffic (RPMs): +0.4%;
    • Passenger load factor: 78.6%, -1.3 ppt;
    • Passenger revenue per RPM: USD 17.4 cents, -7.3%;
    • Passenger revenue per ASM: USD 13.6 cents, -8.8%;
    • Operating revenue per ASM: USD 15.9 cents, -7.8%;
    • Operating cost per ASM: USD 16.4 cents, -9.8%;
    • Operating cost per ASM excl fuel: USD 12.3 cents, -3.2%;
  • 12 months ended 31-Dec-2009:
    • Operating revenue: USD9,102 million, -12.1%;
    • Operating cost: USD9,397 million, -9.6%;
      • Fuel: USD2,288 million, -28.4%;
      • Labour: USD1,636 million, -6.7%;
    • Operating profit (loss): (USD295 million), compared to a loss of USD153.3 million in the previous corresponding period;
    • Net profit (loss): (USD22.4 million), compared to a loss of USD957.9 million in the previous corresponding period;
    • Passenger traffic (RPMs): -5.2%;
    • Passenger load factor: 80.7%, -0.7 ppt;
    • Passenger revenue per RPM: USD 16.5 cents, -7.6%;
    • Passenger revenue per ASM: USD 13.4 cents, -8.4%;
    • Operating revenue per ASM: USD 15.3 cents, -8.1%;
    • Operating cost per ASM: USD 15.8 cents, -5.4%;
    • Operating cost per ASM excl fuel: USD 12.0 cents, +3.3%. [more][more - Perspective]
    • *Exchange rate of CAD1.07 to USD1.00

Air Canada: “Over the past year we have overcome tremendous challenges to begin 2010 with satisfactory liquidity, reduced unit costs and measurable customer satisfaction improvements. We are now in a stronger position to manage through what is expected to be a slow start to the recovery for the sector,” Calin Rovinescu, President and Chief Executive Officer. Source: Air Canada, 10-Feb-2010.

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