Air Canada revels in ‘best-ever’ earnings figure, and cargo is up too
27 / 10 / 2017
Air Canada made C$1.4bn in EBITDAR (earnings before interest, taxes, depreciation, amortisation, impairment and aircraft rent) in the third quarter of 2017, a record figure.
It was a $140m increase on last year’s third-quarter EBITDAR of C$1.25bn.
Cargo-related revenue rose by a 38% year on year, with an increase of C$179m. In 2016 Air Canada linked up with fellow Canadian company, freighter airline Cargojet, to launch freighter services to Latin America and Europe.
“I am pleased to report that Air Canada delivered its best-ever third-quarter financial performance,” said Calin Rovinescu, the flag carrier’s president and chief executive.
“These record results underscore the success of the multi-year transformation of our business model,” he insisted.