BUZZ-Air Canada: Lower-than-expected profit

Thu Aug 7, 2014 12:38pm EDT
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** Shares of Canada's largest carrier down 6 pct at C$8.70

** Company reports lower-than-expected Q2 adjusted profit of 47 Canadian cents per share, below the average analyst estimate of 51 Canadian cents, according to Thomson Reuters I/B/E/S

** Yield, or passenger revenue per available seat mile, declined in the quarter

** Yield weighed down as the airline expanded into new overseas routes, increased the number of flights and added more seats to major European destinations

** Up to Wednesday's close, company's stock had risen more than 24 pct this year