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Company News

Air Canada reports quarterly loss on rising fuel costs

July 27 (Reuters) - Air Canada on Friday posted a quarterly loss compared to a year-ago profit, as the carrier faced margin pressure from rising fuel costs.

The Montreal-based company reported a loss of C$77 million, or 28 Canadian cents per share, in the second quarter ended June 30, compared with a profit of C$311 million, or C$1.13 per share, a year earlier.

The loss in the latest quarter included a charge of $186 million on the sale of assets and losses on foreign exchange of $25 million.

Operating revenue rose 10.8 percent to C$4.33 billion. (Reporting By Allison Lampert in Montreal and Karan Nagarkatti in Bengaluru; Editing by Shailesh Kuber)

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