Air Canada Reports Increased Q4 Loss But Higher Revenue
The country’s largest airline said it had posted a bigger net loss in the fourth quarter due to rising costs.
For the fourth quarter, Air Canada reported a 179 million Canadian dollars ($134.5 million) net loss, an increase of 63 million Canadian dollars from the same period in 2015.
Operating revenue for the period was 3.43 billion Canadian dollars, up from $3.18 billion in 2015.
For the full year, Air Canada said its net income rose to 876 million Canadian dollars, an increase of 568 million Canadian dollars from 2015. Full-year revenue for 2015 increased to 14.68 billion Canadian dollars, compared to 13.97 billion in 2015.
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