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Air Canada reported C$308m (US$222.1m) in net income for 2015, nearly tripling the $105m net profit the airline earned in 2014. “We achieved the best financial results in Air Canada’s history for a second year in a row, by a substantial margin,” Air Canada president and CE Calin Rovinescu said, adding the results reflected progress made through the company’s fleet modernisation, international expansion and network diversification initiatives, as well as the continuing rollout of rouge. On a GAAP basis, the airline’s full-year operating revenue was $13.87b, up 4.5% YOY. Total operating expenses for the year dipped 0.7% YOY to C$12.37b, which the carrier attributed to lower aircraft fuel expenses ($924m). Air Canada’s full-year operating profit came to $1.5b, more than doubling its $815m in operating income for 2014. <br/>

Air Canada has signed a letter of intent with Bombardier for up to 75 CS300 aircraft, powered by Pratt & Whitney PurePower PW1500G engines as part of its narrowbody fleet renewal plan. The LOI is for 45 firm orders, plus options for an additional 30 aircraft; it includes substitution rights to CS100 aircraft in certain circumstances. Deliveries are scheduled to begin in late 2019 and extend to 2022. Air Canada said that the first 25 aircraft on delivery will replace its existing mainline fleet of Embraer E190 aircraft. The carrier said the acquisition of the CSeries aircraft represents a key element of its narrowbody fleet renewal program and complements the acquisition of 61 Boeing 737 MAX aircraft announced in Dec 2013 to replace the larger end of the airline’s mainline narrowbody fleet. <br/>