O Canada! Air Canada has best Quarter Ever..
AC (YUL) today reported third quarter adjusted net income of C$457 million ($400.9 million US) or $1.55 per diluted share compared to adjusted net income of C$365 million ($320.2 million US) or $1.29 per diluted share in the third quarter of 2013, an improvement of $92 million ($80.7 million US) or $0.26 per diluted share. EBITDAR(1) (earnings before interest, taxes, depreciation, amortization and aircraft rent) amounted to $749 million compared to EBITDAR of $626 million in the third quarter of 2013, an improvement of $123 million. On a GAAP basis, Air Canada reported operating income of $526 million, an increase of $110 million from the same quarter in 2013. The airline recorded net income of $323 million or $1.10 per diluted share in the third quarter of 2014 compared to a net income of $299 million or $1.05 per diluted share in the third quarter of 2013, an improvement of $24 million or $0.05 per diluted share.
New Key Routes: “In the third quarter, we continued to implement our commercial strategy focused on international growth and the strategic deployment of Air Canada rougeTM to compete more effectively in leisure markets. Together with the on-going renewal of the mainline fleet, we continue to build YYZ into a truly global hub with the successful launch in the quarter of new HND, to be followed with the introduction of new year-round service to GIG and PTY in December, AMS in June 2015, as well as Vancouver-Osaka and Montreal-Venice seasonal services to be operated by Air Canada rougeTM. Performance of our leisure carrier subsidiary has continued to exceed our expectations. Just one year after its launch in July 2013, Air Canada rougeTM has served almost 2.5 million customers, including one million this past quarter, contributing to record system-wide load factors for the second consecutive quarter.
