ACE Aviation reports 2007 net income of $1.4 billion

ACE Aviation Holdings reported net income of $1,398 million for the full year 2007. Net income included $1,366 million pre-tax gains mainly from the sale of ACTS and from the secondary offerings of Aeroplan and Jazz. Operating income amounted to $453 million including operating income of $433 million at Air Canada. Air Canada reported EBITDAR of $1,263 million.

For the fourth quarter of 2007, ACE reported operating income of $46 million. EBITDAR for ACE in the fourth quarter amounted to $248 million. Air Canada reported operating income of $72 million and EBITDAR of $274 million, increases of $85 million and $69 million respectively over fourth quarter 2006 (excluding special charges).

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