for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Company News

BRIEF-Air Canada reports Q2 adjusted earnings of C$0.78/shr

Aug 1 (Reuters) - Air Canada

* Air Canada reports record second quarter 2017 results

* Q2 adjusted earnings per share C$0.78

* Q2 earnings per share c$1.08

* Air Canada - Air Canada now expects positive free cash flow in range of $600 million to $900 million in 2017

* Qtrly operating revenue $3,910 million versus $3,458 million

* Air Canada - for Q3 of 2017, Air Canada expects adjusted CASM to decrease 1.5 to 2.5 per cent when compared to Q3 of 2016

* Air Canada - Q2 passenger revenue per ASM 13.6 cents versus 13.8 cents

* Air Canada - Q2 passenger revenue per RPM 16.5 cents versus 16.7 cents

* Air Canada - for full year 2017, Air Canada continues to expect adjusted CASM to decrease 3.0 to 5.0 per cent compared to full year 2016

* Air Canada qtrly casm 14.3 cents versus 14.2 cents

* Air Canada qtrly adjusted CASM 10.8 cents versus 11.2 cents

* “in 2018, capacity growth, driven by our wide-body fleet expansion, will begin to slow”

* Air Canada - Air Canada continues to expect employee benefits expense to increase by approximately $50 million in 2017 from full year 2016

* Air Canada - continues to expect FY depreciation, amortization and impairment expense to increase by approximately $145 million from full year 2016

* Air Canada - completed a review of projects which supported its CASM reduction target of 21 per cent over 2012 to 2018 period

* Air Canada - Air Canada now expects FY aircraft maintenance expense to increase by approximately $75 million from full year 2016

* Air Canada - review of projects included addition of Boeing 787, high-density Boeing 777 aircraft, launch of Air Canada rouge, other initiatives

* Air Canada sees annual ROIC of 13-16 per cent in 2017 and 2018

* Air Canada - Air Canada now expects to achieve an annual EBITDAR margin of 17-19 per cent for full year 2017 and 2018

* All figures in C$ Source text for Eikon: Further company coverage:

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up