Air Canada expects $120m charge on Aveos shutdown

Victoria
By Victoria April 27, 2012 22:58

Air Canada expects $120m charge on Aveos shutdown

Air Canada is expecting to take a $120-million charge in its first quarter caused mainly by the closure of Aveos Fleet Performance in March.

The charge includes “a non-cash loss on investments of $65-million resulting from the 2010 restructuring of Aveos” and “a liability and corresponding loss from discontinued operations of $55-million related to Air Canada’s commitment under an employee separation program”, said the airline. Nevertheless, Air Canada said its first-quarter EBITDAR will range from $170-million to $180-million, surpassing analysts’ estimates.

Victoria
By Victoria April 27, 2012 22:58
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