Breaking Records

Air Canada Reports Annual Results For 2017

Air Canada has reported record full year 2017 EBITDAR of $2.921 billion compared to the previous record full year 2016 EBITDAR of $2.768 billion, an increase of $153 million.

The company had 2017 operating income of $1.364 billion compared to 2016 operating income of $1.345 billion. Adjusted pre-tax income amounted to $1.158 billion in 2017 compared to adjusted pre-tax income of $1.148 billion in 2016.

On a GAAP basis, the airline reported record income before income taxes of $1.279 billion in 2017 compared to income before income taxes of $877 million in 2016.

Commenting on the results, Air Canada’s president and CEO, Calin Rovinescu said: “Our strong 2017 results underscore the effectiveness of our transformation strategy, as well as the success of our global expansion and the power of our comprehensive network.”

He pointed out: “We profitably expanded our global network with 30 new routes launched, and carried a record 48 million customers, while maintaining our focus on cost discipline and continuing to improve margins.”

And Rovinescu noted: “Our achievements were driven by the hard work and commitment of our 30,000 employees and I commend them for enthusiastically embracing positive change at Air Canada. I especially want to thank our colleagues from our various Operations branches who worked through extremely challenging and disruptive winter conditions over the holiday period, for their commitment and professionalism in bringing our customers safely to their destinations.”

Looking ahead, Air Canada’s boss said: “In 2018, our wide-body fleet renewal will be substantially completed as our mainline narrow-body replacement program accelerates. Along with new aircraft, we will keep investing in products and services, including our new loyalty program, technology to enrich the travel experience, and enhanced airport services and amenities.”

Rovinescu concluded: “In 2017, we were recognized as “Best Airline in North America” by Skytrax and we intend to continue providing a superior product to our customers, whom I thank on behalf of all Air Canada employees for choosing to fly with us.”

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Posted in Airlines, News