Air Canada has a record first quarter

Continuing in 2015, Air Canada expects earnings growth will be more modest in the second quarter of 2015, given an especially strong revenue generated in the second quarter of 2014Continuing in 2015, Air Canada expects earnings growth will be more modest in the second quarter of 2015, given an especially strong revenue generated in the second quarter of 2014
Low fuel costs propelled Air Canada (CSE:AC), Canada"™s largest airline, toward its best first quarter in history, enjoying much higher than expected earnings.
The airline said it had net adjusted earnings of C$122 million, or C$0.41/share. In the first quarter of 2014, Air Canada suffered a net loss of C$132 million or C$0.46　per share. This is significantly better than analyst"™ expectations of C$0.17 per share.
Operating profit was C$200 million, against an operating loss of C$62M in the same period a year ago.
«Low fuel prices are a welcome tailwind, but history has shown how fickle oil pricing can be, so we remain intensely focused on the execution of the strategy that has brought us this far», said Air Canada"™s CEO, Calin Rovinescu.
The results also reflect the adoption of cost-cutting measures in all areas of operations, allowing the airline to offset the depreciation of the Canadian dollar even as traffic increased, particularly on routes to sunny destinations.
Rovinescu plans to continue to boost margins, increase adjusted net income, strengthen the financial position of Air Canada and create value for its shareholders, despite the inconvenience this causes passengers, especially where baggage fees are concerned.
Cancellation fees, seat selection, preferred seating and various payable upgrades added to the list of cost cutting grievances.
Continuing in 2015, Air Canada expects earnings growth will be more modest in the second quarter of 2015, given an especially strong revenue generated in the second quarter of 2014.
Yield, a key measure of airline performance, also known as passenger revenue per revenue passenger mile, fell 4.2 percent from Q1 2014 because of the airline"™s strategy to increase long-haul and leisure flights. In the second quarter, the airline expects yield to improve from 0.25 to 1.25 percent from a year earlier…