Air Canada is reporting $437 million of net income and $734 million or $2.50 per share of adjusted net income for the third quarter.
The adjusted profit was up from $457 million last year, and 29 cents per share above analyst estimates.
The company says it benefited from the lower price of fuel, which reduced costs.
The weaker Canadian dollar was good and bad news for the airline: it drove up costs of things priced in U.S. dollars, but it drove up passenger revenues, most of which are priced in Canadian dollars.
Passenger revenue was up 6.9 per cent to $3.7 billion.
TORONTO, Sept. 22, 2015 /PRNewswire/ – Air Canada customers travelling between the U.S. and Europe or Asia via the airline’s Toronto Pearson global hub will have an opportunity to pause their journey in the city for up to one week with no stopover fee. This special offer, developed with the support of Tourism Toronto, is designed to encourage U.S. originating international customers to take advantage of their connection to experience Canada’s largest and most vibrant city.
“As Air Canada’s global hub, Toronto Pearson is quickly growing in popularity as the most efficient connecting point for U.S. originating travelers to Europe or Asia. But in addition to being extremely convenient for transiting international travelers, Toronto makes an ideal city getaway and for those who have the time, as there is a tremendous amount to see and do in one of the world’s most multicultural and vibrant cities. This is why we are pleased to offer our U.S. originating customers flying on international connections with an opportunity to stop over in Toronto for up to a week at no extra cost to their Air Canada ticket so that they can explore and enjoy its diverse attractions,” said Benjamin Smith, President, Passenger Airlines, at Air Canada.
“International travelers are always looking for added value and exciting destinations and this offer provides both. It’s the perfect way to spend some time exploring Toronto – for the first time or the tenth time – without any additional airfare,” said Andrew Weir, Chief Marketing Officer of Tourism Toronto.
Air Canada’s extended stopover offer is available to U.S. originating international customers connecting through Toronto while travelling from more than 50 U.S. cities to Europe or Asia and can be applied to either the outbound or inbound portion of the trip. Customers can stay up to one week in Toronto for the same price as a usual roundtrip ticket – without any additional fees for an interrupted journey. The offer is valid for flights operated by Air Canada, Air Canada Express or Air Canada rouge.
Canadian Aviation News
An Air Canada pilot is being credited with saving a dog’s life by diverting a flight from Tel Aviv to Toronto after a heating system malfunction in the plane’s cargo area.
The seven-year-old French bulldog named Simba was taking its first flight when the pilot noticed the problem just as the plane was about to head over the Atlantic Ocean, where temperatures plummet.
With the dog’s well-being in peril the pilot decided to land the plane in Frankfurt, Germany.
Simba was placed on another flight and the plane continued on to Toronto.
The dog’s owner was more than grateful.
“It’s my dog, it’s like my child. It’s everything to me,” he said after they were reunited at Pearson Airport.
Aviation expert Phyl Durby said the pilot made the right call, despite tacking on about $10,000 in fuel costs and delaying the flight by 75 minutes.
“If you look at the outside temperature, if it’s minus 50 or 60, there is some insulation but it will probably still get down to below freezing (in the cargo area),” Durby said.
“The captain is responsible for all lives on board, whether it’s human or K-9.”