Air Canada revenue up 13%, profits mixed in 3Q2010

Air Canada revenue up 13% - financial highlights for the three months ended 30-Sep-2010:

• Revenue*: USD3002 million, +13.3% year-on-year;
• Operating costs: USD2678 million, +3.7%;
  • Fuel: USD727.2 million, +7.5%;
  • Labour: USD467.3 million, +7.8%;
• Operating profit: USD324.4 million, +380.9%;
• Net profit: USD259.0 million, -5.8%;
• Total assets: USD10,602 million, +2.7%;
• Cash and cash equivalents: USD1499 million, +35.5%;
• Total liabilities: USD8,878 million, +2.2%;
• Passenger traffic (RPMs): +9.7%;
• Passenger load factor: 84.7%, +1.2 ppt;
• Passenger yield: USD 17.26 cents, +3.2%;
• Passenger revenue per ASM: USD 14.68 cents, +4.7%;
• Operating revenue per ASM: USD 16.37 cents, +4.7%;
• Operating cost per ASM: USD 14.58 cents, -4.1%;
• Cost per ASM excl fuel: USD 10.62 cents, -5.3%;
• Fleet utilisation: 10.7 hour, +8.6%. [more]

*Based on the conversion rate at USD1 = CAD1.00791

Air Canada: "Premium cabin revenues in the quarter accounted for almost one third of the total increase in system passenger revenues, underscoring Air Canada's strong position to capitalise on a rebound in business travel as the economy strengthens," Calin Rovinescu, President and CEO. Source: Air Canada, 04-Nov-2010.