Air Canada lifts Q2 earnings despite 737 MAX grounding
Profits at Air Canada beat expectations in Q2 thanks to higher travel volumes and rising business class income, the airline said Tuesday. The positive earnings came despite the grounding of the company’s fleet of 24 Boeing 737 MAX aircraft. The airline posted net income of C$343m (US$260.4m) for Q2, the company said. That was up from a loss of $102m in the same period a year ago. Adjusted earnings amounted $0.88 per share, higher than the $0.75 analysts had been expecting. Air Canada reported a 3.6% increase in traffic and 10.2% increase in revenues from the business cabin. Q2 revenues were $4.8b, up from $4.3b in the same period last year. Calin Rovinescu, the airline’s president and CE, said the 737 MAX crisis had hit year-over-year pre-tax earnings growth, even though it had surpassed expectations. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-07-31/star/air-canada-lifts-q2-earnings-despite-737-max-grounding
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Air Canada lifts Q2 earnings despite 737 MAX grounding
Profits at Air Canada beat expectations in Q2 thanks to higher travel volumes and rising business class income, the airline said Tuesday. The positive earnings came despite the grounding of the company’s fleet of 24 Boeing 737 MAX aircraft. The airline posted net income of C$343m (US$260.4m) for Q2, the company said. That was up from a loss of $102m in the same period a year ago. Adjusted earnings amounted $0.88 per share, higher than the $0.75 analysts had been expecting. Air Canada reported a 3.6% increase in traffic and 10.2% increase in revenues from the business cabin. Q2 revenues were $4.8b, up from $4.3b in the same period last year. Calin Rovinescu, the airline’s president and CE, said the 737 MAX crisis had hit year-over-year pre-tax earnings growth, even though it had surpassed expectations. <br/>
