Air Canada has reported third quarter 2018 EBITDAR of CA$1.265 billion compared to third quarter 2017 EBITDAR of CA$1.360 billion. Air Canada reported operating income of CA$840 million compared to operating income of $976 million in last year’s quarter.
The airline reported third quarter adjusted pre-tax income of CA$793 million compared to adjusted pre-tax income of CA$922 million in the prior year’s quarter. On a GAAP basis, in the third quarter of 2018, Air Canada reported income before income taxes of CA$876 million compared to income before income taxes of CA$965 million in the third quarter of 2017.
Air Canada reported adjusted net income of CA$561 million in the third quarter of 2018 compared to adjusted net income of CA$922 million in third quarter of 2017. On a GAAP basis, the airline reported third quarter 2018 net income of CA$645 million compared to third quarter 2017 net income of CA$1.723 billion. The net income in the third quarter of 2017 included an income tax recovery of CA$758 million.
Net cash flows from operating activities of CA$371 million in the third quarter of 2018 decreased $122 million compared to the third quarter of 2017. Free cash flow of CA$470 million in the third quarter of 2018 represented an increase of CA$146 million from the third quarter of 2017. Third quarter 2018 free cash flow included net proceeds of CA$293 million from the sale of 25 Embraer 190 aircraft.
