Air Canada forecasts higher Q1 earnings as traffic rises

Thu Apr 3, 2014 7:27pm EDT
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April 3 (Reuters) - Air Canada on Thursday said it expects higher first-quarter earnings before interest, taxes, depreciation, amortization and impairment, and aircraft rent (EBITDAR) due to system-wide traffic growth and capacity increase.

The airline on Feb. 12 said it expected EBITDAR to fall by between C$15 million ($13.6 million) and C$30 million from a year earlier, when it earned C$145 million.

The company now expects first-quarter earnings to be in line with last year's level.

The company also reported a higher revenue per available seat mile (RASM), as well as a better expense per available seat mile (CASM). (Reporting by Shubhankar Chakravorty in Bangalore; Editing by Eric Walsh)