Air Canada reports full year and fourth quarter 2012 results

Air Canada reported full year and fourth quarter earnings before interest, taxes, depreciation, amortization and impairment, and aircraft rent (“EBITDAR”) of $1.451bn (or $1.327bn before the impact of benefit plan amendments) compared to EBITDAR of $1.242bn in 2011. Including the favourable impact of benefit plan amendments, EBITDAR of $1.451bn increased $209m year-over-year (or $85m before the impact of benefit plan amendments). On a GAAP basis, in 2012, net income was $131m, compared to a net loss of $249m in 2011. On an adjusted basis, net income was $53m compared to a net loss of $122m in 2011. For the fourth quarter of 2012, Air Canada reported EBITDAR of $284m compared to EBITDAR of $162m in the fourth quarter of 2011, an improvement of $122m. On a GAAP basis, in the fourth quarter of 2012, Air Canada reported net income of $8m compared to a net loss of $60m in the fourth quarter of 2011. Air Canada reported an adjusted net loss of $6m compared to an adjusted net loss of $167m in the same quarter in 2011.