AC Q3 profit of $429 Million boosted by foreign-exchange gains

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  1. tcook052
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    tcook052 Silver Member

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    http://www.theglobeandmail.com/glob...ack-on-foreign-exchange-gains/article5084697/

    Air Canada posted a robust profit in the third quarter, boosted by foreign-exchange gains.

    The company also said it has begun talks with the federal government for an extension of pension deficit funding relief.

    The Montreal-based airline said third quarter profit was $429-million or $1.54 per share, compared to a loss of $124-million or 45 cents in the year-earlier period.

    The improvement was based largely on favourable foreign-exchange gains, the company said in a news release Thursday.
     
  2. tcook052
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    http://www.680news.com/business/art...mprove-net-income-gets-foreign-currency-boost

    MONTREAL - Airline passengers in some smaller Canadian cities should get a break on fares next year as Air Canada vowed Thursday to respond to lower fares promised by WestJet when it launches its new regional service next year.

    "We know that the regional challenges will require some level of response from us and that is natural, normal and healthy competition and we're certainly prepared for that," Air Canada CEO Calin Rovinescu said Thursday during a conference call about the airline's improved third-quarter results.

    WestJet CEO Gregg Saretsky mused Wednesday about lowering fares when it launches WestJet Encore next year with a few Bombardier (TSX:BBD.B) Q400 aircraft.

    Rovinescu said Air Canada is prepared for its rival's efforts to expand its market opportunities, but won't sacrifice the company's overall yields.

    "Our objective for next year will be to continue to improve on the progress we made this year and we certainly have no intention of conceding anything on the yield side."
     

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