Air Canada reports $184M Q4 profit, operating revenue up 11% from year earlier
By The Canadian Press on February 16, 2024.
MONTREAL – Air Canada reported a fourth-quarter profit of $184 million, up from $168 million a year earlier, as its operating revenue rose 11 per cent. The airline says the profit amounted to 41 cents per diluted share for the quarter ended Dec. 31, compared with 41 cents per diluted share in the last three months of 2022. Operating revenue totalled $5.18 billion, up from $4.68 billion in the fourth quarter of 2022. The airline says the increase came as its operated capacity increased nine per cent compared with a year earlier. Operating expenses increased eight per cent due to higher costs reflecting the increased capacity and traffic, partially offset by lower jet fuel prices. On an adjusted basis, Air Canada says it lost 12 cents per diluted share in its latest quarter, compared with an adjusted loss of 61 cents per diluted share a year earlier. This report by The Canadian Press was first published Feb. 16, 2024. Companies in this story: (TSX:AC) 9-8
