I see things are still the same at good old AC. Perhaps Bankruptcy on the horizon, further loss of conditions, no pension, well done folks.
August 6, 2010
Air Canada on Thursday reported a second-quarter loss, hurt by higher operating expenses, and said it expects third-quarter cost per available seat mile (CASM), excluding fuel expense, to decline.
Canada's largest airline plans to increase its third-quarter system available seat miles capacity by 7 percent to 8 percent.
It expects CASM, excluding fuel expense, to drop from 2009 levels by 4.5 percent to 5.5 percent.
For the second quarter, net loss was CAD$203 million (USD$199.6 million), compared with net income of CAD$155 million a year ago.
Operating expenses were up 4 percent, due mainly to capacity growth, higher fuel prices and increases in pension and commission expenses, the airline said in a statement.
Passenger revenues rose 12 percent due partly to traffic growth, the company said. Passenger revenue per available seat mile increased 7 percent.
Operating revenue rose 13 percent to CAD$2.63 billion.