ACE Aviation reports 2nd quarter net income of $830 million

ACE Aviation Holdings reported net income of $830 million for the second quarter of 2008. This included pre-tax gains of $908 million from the sale of Aeroplan and Jazz units in the quarter. ACE recorded an operating loss of $2 million for the quarter. Air Canada reported operating income of $7 million, a decrease of $81 million from the second quarter 2007, on a comparative basis.

EBITDAR for ACE amounted to $238 million. Air Canada reported EBITDAR of $249 million for the quarter, a decrease of $50 million over second quarter 2007.

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