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Air Canada posts larger second-quarter loss, revenue up slightly to $2.99 billion
MONTREAL – Air Canada Inc. (TSX:AC.B) says it was pushed into the red during the second quarter by the financial impact of labour disruptions and the closure of the company that did major overhauls of its aircraft.
The Montreal-based airline had a $96-million net loss in the three-month period, more than double the same period last year.
The loss was equal to 35 cents per share, up from 17 cents per share in the second quarter of 2011 before adjustments.
On an adjusted basis, the Montreal-based airline had a loss of five cents per share, up from a loss of one cent per share a year ago.
Air Canada says that it would have made an adjusted profit without the impact of the labour disruptions and the bankruptcy of Aveos Fleet Performance..
The airline’s revenue was little-changed year-to-year, rising $71 million to $2.99 billion.
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