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Air Canada reports Q2 profit down from year ago, operating revenue up
August 7, 2024 By The Canadian Press
Air Canada logos are seen on the tails of planes at the airport in Montreal on Monday, June 26, 2023.THE CANADIAN PRESS/Adrian Wyld Air Canada reported a second-quarter profit of $410 million, down from $838 million a year earlier, as its operating revenue edged higher.
The airline says its net income amounted to $1.04 per diluted share for the quarter, down from $2.34 per diluted share in the same quarter last year.
Operating revenue totalled $5.52 billion, up from $5.43 billion a year earlier.
The rise came as the airline increased its operated capacity by 6.5 per cent compared with last year.
On an adjusted basis, Air Canada says it earned 98 cents per diluted share, down from an adjusted profit of $1.85 per diluted share in the same quarter a year ago.
In its outlook, the airline says it plans to increase its available seat mile capacity in the third quarter by between four and 4.5 per cent compared with the same quarter in 2023.
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This report by The Canadian Press was first published Aug. 7, 2024.
