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Company News

Air Canada profit slumps 63 percent

Oct 31 (Reuters) - Air Canada’s profit fell 62.6 percent in the third quarter from a year earlier, when it booked a C$793 million tax gain.

The Montreal-based airline, which was also hurt by higher fuel costs, said its profit fell to C$645 million ($491.13 million) or C$2.34 per share, in the quarter ended Sept. 30, from C$1.72 billion, or C$6.22 per share, a year earlier.

Operating revenue rose to C$5.42 billion from C$4.88 billion. ($1 = 1.3133 Canadian dollars)

Reporting by Debroop Roy in Bengaluru; Editing by James Emmanuel

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