3Q profits down at Air Canada
Air Canada’s operating profit for 3Q dropped to C$270m ($266.6m), down from C$306m a year earlier.
Air Canada’s operating profit for 3Q dropped to C$270m ($266.6m), down from C$306m a year earlier. CEO Calin Rovinescu blamed the result on the high price of fuel, noting that the airline had “experienced a strong revenue performance” in the quarter. Indeed, operating revenue increased seven per cent to C$3.24bn, but operating expenses also rose nine per cent. Air Canada also completed a cost-reduction programme in the quarter.
