Air Canada Hits Record Profits
CBJ – The year 2014 was the best ever for Air Canada, as the nation’s biggest airline recorded its best profit in history amid cost cutting measures and an increase in passenger traffic. The latter part of the year was aided by much lower fuel costs and because of that factor alone, 2015 is also expected to yield strong returns.
Full-year profit rose to $531-million or $1.81 a share on an adjusted basis, compared with $340-million or $1.20 a share in 2013. The figures are before interest, taxes, depreciation, amortization and aircraft rent.
Final profit rose to $105-million or 34 cents a share from $10-million or 2 cents in 2013.
Air Canada’s loss widened to $100-million or 35 cents a share in the fourth quarter compared to $6-million or 2 cents in 2013.