Air Canada profit down
Air Canada saw its third-quarter profit drop compared with a year ago amid rising fuel prices as operating revenue climbed 11 per cent.
From the Equity Insider archive. This article dates from Nov 1, 2018 and is preserved as first published.
Air Canada saw its third-quarter profit drop compared with a year ago amid rising fuel prices as operating revenue climbed 11 per cent.
The airline reported a profit of $645 million or $2.34 per diluted share for the quarter, which ended Sept. 30.
That’s compared with a profit of $1.72 billion or $6.22 per diluted share a year ago, when the company benefited from an income tax recovery of $758 million.
22 per diluted share a year ago, when the company benefited from an income tax recovery of $758 million.
Operating revenue totalled nearly $5.42 billion, up from $4.88 billion.
On an adjusted basis, Air Canada says it earned $2.03 per diluted share for the quarter, down from an adjusted profit of $3.33 per diluted share in the same quarter last year.
Analysts on average had expected a profit of $2.09 per share for the quarter, according to Thomson Reuters Eikon.
