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Air Canada profit down 37pc to US$142 million as revenue rises 1.3pc
CANADIAN flag carrier Air Canada posted a second quarter 37 per cent profit decline to C$186 million (US$142 million), drawn on revenues of C$3.46 billion, which rose 1.3 per cent.
That beat analysts' estimates with revenue increases of the country's biggest carrier having benefited from lower fuel prices.
CEO Calin Rovinescu's five-year plan to reduce costs calls for adding flights to the US and overseas, has expanded the Rouge leisure unit and added Boeing 787 jets, which burn less fuel than the older aircraft they are replacing.
That beat analysts' estimates with revenue increases of the country's biggest carrier having benefited from lower fuel prices.
CEO Calin Rovinescu's five-year plan to reduce costs calls for adding flights to the US and overseas, has expanded the Rouge leisure unit and added Boeing 787 jets, which burn less fuel than the older aircraft they are replacing.
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