Air Canada Reports Q1 Loss, But Revenue Improves; Traffic Climbs

(RTTNews) - Air Canada (AC.TO) Thursday reported a loss of C$81 million or C$0.22 per share for the first quarter compared with net income of C$4 million or C$0.03 loss per share in the same quarter a year ago.

Excluding one-time items, the company posted adjusted loss of C$96 million or C$0.27 per share, that missed the average estimate of analysts polled by Thomson-Reuters of C$0.08 loss per share. Analysts' estimates typically exclude special items.

Revenue for the quarter, however, increased to C$5.226 billion from C$4.887 billion in the previous year. The consensus estimate was for C$5.19 billion.

Revenue passenger miles, otherwise called traffic, increased 10.5 percent to 20.52 billion, while Passenger load factor of 84.3 percent was nearly flat with last year.

For the second quarter, Air Canada said it plans to increase its ASM capacity by about 7 percent from the same quarter last year.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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