Air Canada Q3 revenue hits record high
01 / 11 / 2018
Air Canada’s third-quarter results showed growth of 11% in operating revenue, which exceeded C$5bn for the first time in the carrier’s history.
Operating expenses of C$4.6bn were up 17% compared to the same quarter of 2017, mainly driven by higher fuel prices and increased capacity.
In terms of its cargo activities, the carrier posted operating revenues of C$218m (up from the C$194m realised in the third quarter of last year).
The lion’s share of that revenue – C$91m – came from flights on the Pacific sector, followed by transatlantic routes (C$74m), then Canadian business (C$25m). US transborder business generated C$12m while “other” destinations, principally Latin America, accounted for the remaining C$16m.
President and chief executive Calin Rovinescu said: “Strong revenue and cost management substantially offset the challenges we faced in the quarter, principally the significant increase in fuel prices.”
He expects the same “revenue momentum” to continue into the fourth quarter and 2019.