Air Canada Posts Best Results in 77-Year History
Air Canada announced financial results for the fourth quarter and year ended December 31, 2013.
The Montreal-based carrier reported a profit of $619 million for 2013, up $117 million from $442 million in 2012. Air Canada also saw a significant increase in its fourth quarter profit of $135 million in 2013, compared to $47 million a year earlier.
Revenue for 2013 increased 2.6% to $11.021 billion. For the fourth quarter, revenue was up 1.9% to $2.560 billion.
Passenger revenue per available seat mile, or Prasm, for the year was up 0.6% from 2012. For the fourth quarter, the airline saw a decrease of 1.7% from the previous year.
Passenger traffic for the year increased by 2.1%, and there was a 2.5% increase in traffic for the fourth quarter.
Air Canada’s load factor, representative of the percentage of seats filled, was 80.3% in the fourth quarter of 2013, 0.9 percentage points lower than the fourth quarter of 2012. Despite this however, the carrier had an 82.8% load factor for the year, 0.1 percentage points higher than in 2012, and a record high for the airline.
The airline’s full-year financials were the best it has reported since its founding in 1937.
(Photo: Accura Media Group)