Air Canada reported C$876m (US$650.3m) net profit for 2016, nearly tripling the airline’s $308m net profit in 2015. The airline’s full-year consolidated operating revenue was $14.7b, up 5.8% over $13.9b in 2015; operating expenses totaled $13.3b, up 7.8% from $12.4b in 2015. Operating income for the year totaled $1.3b, down 10.1% from $1.5b in 2015. Excluding special items, the company’s full-year EBITDAR totaled $2.8b, up 8.9% over 2015. Air Canada’s full-year operating margin was 9.2%, down 1.6 points from 2015, and its full-year ROIC was 14.7%, compared to 18.3% in 2015. Full-year passenger traffic grew 13.2% to 76.5b RPMs as capacity increased 14.7% to 92.7b ASMs, producing a full-year passenger load factor of 82.5%, down one point from 2015. <br/>
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Ethiopian Airline has rejected an offer by the Asset Management Corporation of Nigeria (AMCON) to invest in Nigeria’s biggest domestic airline, Arik Airline. A source close to the govt said that the AMCON had met with Ethiopian Airline to invest in Arik Air, but was turned down. Although the source did not say exactly why the offer was turned down but suggested that it could be as a result of myriad of issues surrounding the takeover of Arik by AMCON. Joseph Arumemi-Ikhide, founder of Arik Air, has also confirmed the development, saying the plan by govt to invite Ethiopian Airline to manage Arik had failed, and warned that if Ethiopian Airline dared to take over the management of Arik , he would sue the company. <br/>
A Turkish Airlines plane in Istanbul was evacuated Saturday after a suspicious note was discovered in one of its bathrooms. The Turkish Airlines cabin crew found the words "BOMB TO TORONTO" on the bathroom's wall on Flight TK-17 during its pushback from the gate, a Turkish Airlines press official said. The plane was leaving Istanbul's Ataturk International Airport for Toronto Pearson International. The plane returned to its parking spot and was evacuated. The airline said the plane and its passengers underwent security procedures, but the official said nothing suspicious was found. A new plane has been designated for the flight to Toronto. <br/>