Best Quarter in History for Air Canada
“I am extremely pleased to report Air Canada’s best financial performance of any quarter in the Corporation’s 77-year history, surpassing previous records for adjusted net income, operating income and EBITDAR”, said Calin Rovinescu, who is the president and chief executive officer of Air Canada.
According to this press release, Air Canada experienced the highest adjusted net income and operating income results of any quarter in its history:
- Adjusted net income of $457 million versus adjusted net income of $365 million in the third quarter of 2013, an improvement of $92 million, representing a 25.2 percent increase, or $0.26 per diluted share
- Operating income of $526 million versus operating income of $416 million in the third quarter of 2013, an increase of $110 million or 26.4 percent
Air Canada is the latest airline to announce significantly positive financial results this year:
- United Airlines reported a profit of $1.1 billion for the third quarter of 2014 excluding special items
- Delta Air Lines pre-tax income for the September 2014 quarter was $1.6 billion excluding special items
- American Airlines reported a profit of $1.5 billion for the second quarter of 2014 excluding special items — as with Air Canada, a record for any quarter in the history of American Airlines
…and with the collection of ancillary fees combined with lower fuel costs, consolidation and airplanes full of passengers, expect these profits — and possibly more breaking of records — to continue in the near future.
How long do you believe that this positive wave of financial reports will continue for airlines based in North America?