Air Canada posts 2nd quarter net income of CA$343 million

Air Canada has reported second quarter 2019 EBITDA of CA$916 million compared to second quarter 2018 EBITDA of CA$739 million. The airline reported second quarter 2019 operating income of CA$422 million compared to second quarter 2018 operating income of CA$308 million. Adjusted net income was CA$240 million in the second quarter of 2019 compared to adjusted net income of CA$129 million in the second quarter of 2018.

Second quarter 2019 net income amounted to CA$343 million compared to a second quarter 2018 net loss of CA$102 million. The second quarter of 2019 included foreign exchange gains of CA$117 million while the second quarter of 2018 included a loss on disposal of assets of CA$186 million and foreign exchange losses of CA$82 million.

“The impact of the Boeing 737 MAX grounding will be felt more acutely in our very busy summer period and, as a result, third quarter EBITDA is expected to increase approximately five per cent versus the third quarter of 2018,” said Calin Rovinescu, President and Chief Executive Officer of Air Canada. “Third quarter projected capacity is expected to decline approximately two per cent compared to the third quarter of 2018, as opposed to an originally planned capacity increase of approximately three per cent. In our planning, we will be removing the Boeing 737 MAX from our schedule until at least January 8th, 2020.

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