Air Canada reports third quarter net income improvement of 61%

Air Canada reported third quarter adjusted net income of CAD$734m, compared to adjusted net income of CAD$457m in the third quarter of 2014, an improvement of CAD$277m or approximately 61%. EBITDAR amounted to CAD$1,076m compared to EBITDAR of CAD$749m in the same quarter in 2014, an increase of CAD$327m or approximately 44% year-over-year. On a GAAP basis, Air Canada reported record third quarter operating income of CAD$815m compared to operating income of CAD$526m, an improvement of CAD$289m or approximately 55% from the third quarter of 2014. An operating margin of 20.3% in the third quarter of 2015 reflected an improvement of 6.5% points from the same quarter in 2014. In the third quarter of 2015, net cash flows from operating activities totaled CAD$476m, an improvement of CAD$285m from the third quarter of 2014. Negative free cash flow amounted to CAD$90m, an improvement of CAD$102m from the third quarter of 2014.