May 11, 2008
Air Canada reduces first-quarter operating loss despite soaring fuel costs
“Our revenue model delivered solid revenue growth, and contributed to a 4.8 per cent improvement in our unit costs in the quarter, excluding fuel”
- Air Canada (TSX:AC.A) produced stronger than expected results in the traditionally slow first quarter as its operating performance improved despite rising fuel costs that have battered all the world's air carriers.
The Montreal airline said Thursday its operating loss in the January-March quarter fell sharply to $12 million, improving on a year-ago operating loss of $78 million.
"Despite record fuel prices, we are probably one of the few carriers around the world to post better operating results, something that all of us at Air Canada are very proud of," president and CEO Montie Brewer said in a conference call with analysts. Read more
Read full story from The Canadian Press
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