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.
