Canada Jetlines Announces Q1 2024 Financial Results [Yahoo! Finance]
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Source: Yahoo! Finance
leading leisure airlines, today reported financial results for the first quarter ended March 31, 2024. All financial figures are in Canadian dollars and in accordance with IFRS as presented in the annual consolidated financial statements. Q1 2024 Three-Month Period Financial Results: Operating revenues of $11.5 million, representing a sequential increase of $6.4 compared to Q1 2023. Flying hours of 1802 as compared to 571 hours in Q1 2023, an increase of 215%. Growth in number of aircrafts from 2 during Q4, 2023 to 3 in the current quarter. Adjusted EBITDAR* of $(4.2) million, an increase of $2.2 million compared to Q1 2023. A net loss of $(6.4) million, an increase of $2.7 million compared to Q1 2023. Eddy Doyle, CEO and President of Canada Jetlines commented, "This quarter, we are pleased to announce that Canada Jetlines has achieved significant milestones in expanding our operations and enhancing our fleet to meet the growing demand for leisure air travel. With our fi
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