Air Canada reports record full year 2013 results

Air Canada reported record full year earnings before interest, taxes, depreciation, amortization and impairment, and aircraft rent (“EBITDAR”(1) of $1.433bn (or $1.515bn including the impact of benefit plan amendments) compared to EBITDAR of $1.320bn (or $1.447bn including the impact of benefit plan amendments) in 2012, an increase of $113m (or $68m including the impact of benefit plan amendments). Operating income of $619m increased $177m from 2012. On a GAAP basis, in 2013, net income was $10m compared to a net loss of $136m in 2012. On an adjusted basis, net income was $340m, a record for Air Canada, compared to net income of $55m in 2012, an improvement of $285m.