Air Canada posts first quarter net loss of CA$37m

Air Canada reported first quarter 2017 EBITDAR, excluding special items, of CA$342m, compared to first quarter 2016 EBITDAR of CA$460m. The airline recorded a first quarter EBITDAR margin of 9.4%, better than the margin projected in Air Canada’s February 17, 2017 news release. On a GAAP basis, Air Canada reported an operating loss of CA$54m in the first quarter of 2017 versus operating income of CA$154m in the first quarter of 2016. The airline reported a net loss of CA$37m in the first quarter 2017, compared to a net income of CA$101m in the first quarter of 2016. System passenger revenues increased CA$231m to CA$3.095bn or 8.1% from the first quarter of 2016. Traffic grew 14.0%, reflected traffic increases in all of Air Canada’s five geographic markets.