Air Canada reports first quarter 2016 results

Air Canada reported first quarter 2016 record EBITDA of CAD$460m compared to EBITDAR of CAD$442m in the same quarter in 2015. For the 12 months ended March 31, 2016, Air Canada’s EBITDAR margin was 18.3%. Air Canada recorded adjusted net income of CAD$85m, compared to adjusted net income of CAD$122m in the first quarter of 2015. On a GAAP basis, in the first quarter of 2016, Air Canada reported operating income of CAD$154m compared to operating income of CAD$200m in the first quarter of 2015. The airline reported net income of CAD$101m in the first quarter compared to a net loss of CAD$309m in the first quarter of 2015.