Losses double at Air Canada

Victoria
By Victoria August 10, 2012 14:00

Losses double at Air Canada

Air Canada has reported a second-quarter net loss of C$96 million ($96 million). This is more than double the C$46 million net loss posted last year. The airline has been hit by labour disruptions and a decline in bookings.
Revenue rose by 2.4% to C$2.99 billion and operating profit was C$63 million, down 13.7%. Traffic was up 1.4% to 13.87 billion RPMs.
President and CEO Calin Rovinescu has stated that new agreements been finalised and the company is now focusing on growth.

Victoria
By Victoria August 10, 2012 14:00
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