Air Canada reports record first quarter 2015 adjusted net income of CA$122m

Air Canada reported first quarter adjusted net income of CA$122m compared to an adjusted net loss of CA$132m in the first quarter of 2014, an improvement of CA$254m. EBITDAR (earnings before interest, taxes, depreciation, amortization and aircraft rent) amounted to CA$442m compared to EBITDAR of CA$147m in the same quarter in 2014, an increase of CA$295m or 200% year-over-year. On a GAAP basis, Air Canada reported operating income of CA$200m in the first quarter of 2015 compared to an operating loss of CA$62m in the first quarter of 2014, an improvement of CA$262m. The airline recorded an operating margin of 6.2% compared to a negative operating margin of 2.0% in the first quarter of 2014, an improvement of 8.2 points.