Air Canada reports surprise profit on higher traffic, loyalty program [Reuters]
Visa Inc. (V)
Last visa inc. earnings: 4/30 04:01 pm
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Source: Reuters
Air Canada reports surprise profit on higher traffic, loyalty program - Reuters 3 Min Read (Reuters) - Air Canada reported a surprise quarterly adjusted profit on Monday, as higher passenger traffic and its purchase of the Aeroplan loyalty program helped offset loss in revenue from the grounding of Boeing MAX planes. Chief Executive Officer Calin Rovinescu said the airline was seeing strong booking trends entering the busy summer peak, despite challenges. “The grounding of the Boeing 737 MAX aircraft... resulted in the unexpected removal of 24 aircraft from our fleet during the last 18 days of the quarter, with the associated cost and revenue impact,” Rovinescu said. The company entered into new leases and extensions and contracted other airlines, helping it protect about 98 percent of the flying from the date of the grounding to April 30, he said. Canada’s largest airline has suspended its 2019 financial forecast, delayed the launch of certain seasonal flights this spring and removed
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Earnings
- 4/23/24 - Beat
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Sec Filings
- 5/6/24 - Form SC
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- 5/6/24 - Form 425
- V's page on the SEC website