Air Canada reports 2016 net income of CA$876m

Air Canada reported record full year 2016 EBITDAR, excluding special items, of CA$2.768bn, compared to the previous record of CA$2.542bn recorded in 2015, an increase of CA$226m or 8.9% and surpassing the 6 to 8% increase projected in its November 7, 2016 news release. On a GAAP basis, Air Canada reported operating income of CA$1.345bn in 2016 versus CA$1.496bn in2015. Air Canada generated adjusted net income of CA$1.147bn compared to adjusted net income of CA$1.222bn in 2015. The airline reported net income of CA$876m in 2016 compared to net income of CA$308m in 2015. Special items are excluded from all of Air Canada’s reported EBITDAR calculations. In 2016 and 2015, special items described further below increased operating expenses by CA$91m and CA$8, respectively.