BUZZ-Air Canada: Q1 profit beats on lower fuel costs

Tue May 12, 2015 10:29am EDT
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** Canada's biggest airline's shares up 4.95 pct at C$12.90

** Reports better-than-expected Q1 earnings as fuel and other operating costs fell

** Forecasts adjusted operating expense per available seat mile of 1.5-2.5 pct for 2015, more than its previous forecast of a decline of 0.75 pct to 1.75 pct

** "The demand environment remains healthy and we expect company to report record Q2 and 2015 results," Cowen & Co analysts write

** Up to Monday's close, Air Canada's stock had risen nearly 45 pct in the last 12 months