Adds particulars on the quarter
Adds particulars on the quarter
MONTREAL, Oct 29 (Reuters) – Air Canada AC.TO on Tuesday reported lower-than-expected third-quarter revenue, damage by decrease flight capability within the wake of the grounding of Boeing Co’s BA.N 737 MAX airplanes.
The airline in July had warned traders that the grounding of its fleet of 24 MAX jets would weigh on earnings through the third quarter, with capability anticipated to say no 2% through the busy summer season journey season in contrast with a yr earlier.
The corporate has pulled the MAX from its schedule till February 14, 2020.
Air Canada’s passenger income per obtainable seat mile, the primary income measure for airways, rose 5.3% through the quarter, helped by increased common fares.
Canada’s largest service’s adjusted web revenue rose to C$613 million, or C$2.27 per share, from C$580 million, or C$ 2.10 per share, a yr earlier.
Analysts on common had…