Air Canada posts 4Q loss on currency exchange
Air Canada posted a net loss of C$231m (US$174.3m) in the Q4, as foreign-exchange losses cost the carrier $262m more than in the year-earlier period, when it posted a net profit of $8m. The bottom-line result masked improving fundamentals, the airline’s top executive said. “These quarterly results showed an improvement over last year’s Q4 on many fronts—including passenger revenues, traffic and yield—and complete a strong fiscal year,” Air Canada president and CE Calin Rovinescu said. “Moreover, they demonstrate the resiliency of our business model and affirm that Air Canada has positioned itself for long-term, sustainable profitability.” The carrier posted record Q4 revenues of $3.8b, up 11.3%, while revenue passenger miles climbed 7.2% on a 5.8% capacity increase. Yields grew 3.8%. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-02-18/star/air-canada-posts-4q-loss-on-currency-exchange
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Air Canada posts 4Q loss on currency exchange
Air Canada posted a net loss of C$231m (US$174.3m) in the Q4, as foreign-exchange losses cost the carrier $262m more than in the year-earlier period, when it posted a net profit of $8m. The bottom-line result masked improving fundamentals, the airline’s top executive said. “These quarterly results showed an improvement over last year’s Q4 on many fronts—including passenger revenues, traffic and yield—and complete a strong fiscal year,” Air Canada president and CE Calin Rovinescu said. “Moreover, they demonstrate the resiliency of our business model and affirm that Air Canada has positioned itself for long-term, sustainable profitability.” The carrier posted record Q4 revenues of $3.8b, up 11.3%, while revenue passenger miles climbed 7.2% on a 5.8% capacity increase. Yields grew 3.8%. <br/>
