Air Canada posts third quarter net income of CAD$768m

Air Canada reported third quarter 2016 EBITDAR of CAD$1.248bn, the highest in its history for any quarter, compared to the previous record EBITDAR of US$1.076n in the same quarter in 2015. Air Canada generated adjusted net income of CAD$821m compared to adjusted net income of CAD$734m in the third quarter of 2015, an increase of CAD$87m from the same quarter in 2015. On a GAAP basis, Air Canada reported operating income of CAD$896m, an improvement of CAD$81m from the same quarter in 2015. The airline also reported net income of CAD$768m in the third quarter of 2016 compared to net income of CAD$437m in the third quarter of 2015. Air Canada reported third quarter 2016 system passenger revenues of CAD$4.106bn an increase of CAD$390m, 10.5 per cent, from the third quarter of 2015.