Nov 8 (Reuters) - Air Canada’s third-quarter profit handily beat analysts’ estimates, as a key measure of costs fell.
Cost per available seat mile (CASM) — the cost incurred to fly a single seat one mile — fell 3.4 percent.
CASM excludes fuel, the cost of ground packages at Air Canada Vacations and special items.
Adjusted net income jumped 59.4 percent to C$365 million ($349 million), or C$1.29 per share, beating the average analyst estimate of C$1.03 per share, according to Thomson Reuters I/B/E/S.
Net income fell 17 percent to C$299 million, or C$1.05 per share, from C$359 million, or C$1.28 per share.