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    Air Canada Posts Record $300Mln Profit in Second Quarter of 2017 - CEO

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    According to Air Canada CEO, company made record profits of more than $300 million in the second quarter of 2017.

    WASHINGTON (Sputnik) Canada’s flagship carrier Air Canada announced on Tuesday it made record profits of more than $300 million in the second quarter of 2017.

    "I am pleased to report that, in our second quarter, we delivered record operating revenues, record EBITDAR [earnings before interest, taxes, depreciation, amortization, impairment and aircraft rent] and ended with record liquidity levels," CEO Calin Rovinescu said.

    The carrier reported second quarter net income of $300 million, or $1.08 per diluted share, a 61 percent increase from the $186 million reported for the second quarter of 2016.

    The numbers exceed both the 2016 financial results and estimates for EBITDAR, Rovinescu said.

    Air Canada's revenue for the quarter was $3.9 billion as its capacity increased 13.5 percent from the previous year. The company launched 16 international and US routes during the quarter.

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