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Air Canada reports $101M profit in first quarter

Air Canada reports $101M profit in first quarter
Business
The airline says the profit amounted to 35 cents per diluted share compared with a loss of $309 million or $1.08 per diluted share in the same quarter last year.

Operating revenue totalled $3.34 billion, up from $3.25 billion.

On an adjusted basis, Air Canada (TSX:AC) said it earned a first-quarter profit of $85 million or 30 cents per diluted share, down from an adjusted profit of $122 million or 41 cents per share a year ago.

Operating expenses rose compared with last year due to an increase in capacity and the impact of the weaker Canadian dollar, offset in part by lower fuel costs.
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