Air Canada reports full year 2014 net income of CA$105m

Air Canada reported full year adjusted net income of CA$531m compared to adjusted net income of CA$340m in 2013, an improvement of CA$191m. EBITDAR (earnings before interest, taxes, depreciation, amortization and aircraft rent) amounted to CA$1.671bn compared to EBITDAR (excluding the impact of benefit plan amendments) of CA$815m, an increase of CA$196m from 2013. The airline reported net income of CA$105m in 2014 compared to net income of CA$10m in 2013. In the fourth quarter of 2014, Air Canada recorded operating income of CA$106m compared to operating income of CA$135m in the fourth quarter of 2013, a decrease of CA$29m. In the fourth quarter of 2013, Air Canada recorded a reduction of CA$82m in operating expenses related to benefit plan amendments while no such adjustment was recorded in the fourth quarter of 2014. Air Canada recorded an operating margin of 3.4% compared to an operating margin (excluding the impact of benefit plan amendments) of 1.8% in the fourth quarter of 2013, an improvement of 1.6 points. For the fourth quarter of 2014, adjusted net income of CA$67m increased CA$64m from the same quarter of 2013. The airline reported fourth quarter EBITDAR of CA$319m compared to fourth quarter EBITDAR (excluding the impact of benefit plan amendments) of CA$277m in 2013, an improvement of CA$42m.