April 30, 2018 / 10:34 AM / 2 years ago

UPDATE 1-Air Canada reports bigger loss on higher fuel costs

(Adds first-quarter details)

April 30 (Reuters) - Air Canada, the country’s largest carrier, reported a bigger quarterly loss on Monday as higher fuel costs offset a rise in traffic.

Fuel costs per litre jumped 16 percent in the first quarter, the Montreal-based airline operator said, while traffic rose 11.4 percent.

The company said its operating expenses went up 11 percent and cost per available seat mile (CASM)- a measure of how much an airline spends to fly a passenger - rose 2.4 percent.

The airline’s net loss widened to C$170 million ($132 million), or 62 Canadian cents per share, in the quarter, from C$13 million, or 5 Canadian cents per share, a year earlier.

On an adjusted basis, the company lost C$52 million.

Operating revenue rose to C$4.07 billion from C$3.64 billion.

$1 = C$1.29 Reporting By Taenaz Shakir and Allison Lampert; Editing by Shounak Dasgupta and Maju Samuel

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