Air Canada posts sharply higher Q3 profit

11/4/2010 | Reuters

Air Canada's operating income for the third quarter grew nearly 500% to slightly more than $326 million, surpassing analysts' expectations. The company saw a nearly 26% jump in revenue from premium passengers, and overall revenue per available seat mile rose 4.7%. "This progress is evidence that our revenue generation initiatives are working and the cost transformation of Air Canada is on track," said CEO Calin Rovinescu.

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