AC reports Q1 net loss of $210M

Discussion in 'Air Canada | Aeroplan' started by tcook052, May 4, 2012.  |  Print Topic

  1. tcook052
    Original Member

    tcook052 Silver Member

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    http://www.thestar.com/business/art...ns-due-to-labour-disruptions-aveos-bankruptcy

    MONTREAL—Air Canada’s first-quarter loss was 11 times higher this year than in 2011 as the airline weathered higher fuel prices, work stoppages by some of its employees and the bankruptcy of the company that formerly overhauled its planes.

    The Montreal company said Friday its net loss for the three months ended March 31 was $210 million, including $55 million attributed to discontinued operations at Aveos.
     
  2. milchap
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    milchap Gold Member

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    images.jpg
    CCAA
     
  3. TRAVELSIG
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    TRAVELSIG Gold Member

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    Oh dear this is really not very good.
     
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  4. AC loses money every year in Q1 simply because it is their slowest season. I haven't seen the full financial package but my guess would be that the cash loss might be a fraction of that reported today.
     
  5. TRAVELSIG
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    TRAVELSIG Gold Member

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    This is the part which is a concern (bolded)- the loss is more than 10 times larger than last year:
    Air Canada reported an operating loss of $93 million in the first quarter of 2012 compared to an operating loss of $66 million in the first quarter of 2011. Air Canada also reported a net loss of $210 million in the first quarter of 2012 compared to a net loss of $19 million in the first quarter of 2011.
     
  6. supersonic88

    supersonic88 New Member

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    LOL im still surpised this airline is not out of business yet. Worst service ever.
     
  7. Maybe if you read their whole finacial report you might not be so panicked:
    Air Canada reported an operating loss of $93 million in the first quarter of 2012 compared to an operating loss of $66 million in the first quarter of 2011. Air Canada also reported a net loss of $210 million in the first quarter of 2012 compared to a net loss of $19 million in the first quarter of 2011. In the first quarter of 2012, the net loss included foreign exchange gains of $87 million, a non-cash loss on investments of $65 million relating to the 2010 restructuring of Aveos, as well as a liability and corresponding loss from discontinued operations of $55 million related to Air Canada's commitment under an employee separation program pursuant to the January 2011 Canadian Industrial Relations Board ruling which recognized separate bargaining units for Aveos and Air Canada unionized employees. In the first quarter of 2011, the net loss included foreign exchange gains of $104 million.

    http://ca.finance.yahoo.com/news/air-canada-reports-first-quarter-100000084.html
     
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  8. that's a great discussion starter:rolleyes:
     
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  9. global_happy_traveller
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    global_happy_traveller Silver Member

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    .................... Comes to mind
     

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