ACE Aviation Holdings Inc., the new publicly traded holding company of Air Canada, today announced it expects to post a third quarter operating profit of CAD $235 million ($185 million) when it posts its financial results on Nov. 15. The result, which is before reorganization items, is up significantly over the CAD $17 million ($13 million) operating income reported in the third quarter of 2003.
Air Canada estimates that consolidated system passenger revenues will increase by approximately 12 percent over the third quarter of 2003. Passenger revenue per available seat mile (RASM) is expected to be up approximately six percent over 2003 levels.
Air Canada anticipates unit cost reductions of approximately four percent from the same quarter last year (11 percent excluding fuel) on an ASM capacity increase of six percent.
Air Canada says that current record high fuel prices are a concern, however, the increase in fuel expense has been partially mitigated by a fuel surcharge in effect on U.S. transborder and international travel and by a stronger Canadian dollar.
As of Oct. 13, the corporation's consolidated cash balance, measured on the basis of cash in its bank accounts, amounted to approximately CAD $1.9 billion ($1.5 million).
Before reorganization costs.
They probably lost 150-200 million for the reported quarter once you figure in the debt servicing and reorg. First qtr of 2005 will be the test.
Passenger revenue figures look more reasonable as I think they are flying less now than before so the yeild should rise.
I guess that means if they stop flying they loose even less?
I am not a fan of AC and the sculdugery they and the feds have imposed upon Canada as you might guess.
AC/Jazz fly less RMP now than before so load factor is up.
AC is no longer a majority Canadian owned company.
AC is not profitable their year end will show a loss.
AC lost millions of investor dollars, when they managed to move the stock to$0.00.
Maybe you can tell me
How much did AC borrow from GE? What did they call it a debtor in possesion loan.
I know the rosy media reports people like to quote as fact, but I think AC is behind the curve and using yesterday's methodology and it will be their down fall once again.
At least those working at westjet are somewhat farther ahead than they would be without stock options. Oh yea - those profit sharing checks are nice every 6 months.
At least Westjet investors don't need to manipulate their stock in order to recover any losses - it took A/C investors only 3 days of trading before they started that. Not a very reassuring thing to happen.
I wonder who long it will take for the unions to start crying to get everything back that they gave up. After all the company is now making a profit!:shock:
My problem revolves around the current management and the fact that they got AC into this. AC was doing fine until the current captains of industry decided to buy the compertition and then set up ZIP and Tango
It's like the movie hero who saves the girl after having gotten her into the problem in the first place.
Current AC management are trying to sell stock at the moment and they are spreading information which is just a "little" inaccurate in my opinion.
Bye the way my thanks to rebel I have never been referred to as overwhelming before. (I hope rebel is a flight attendant)