Air Canada experienced a 31 per cent increase in the price of jet fuel compared with last year’s second quarter, and plans to offset some of the impact with higher fares and other initiatives, Air Canada chief executive Calin Rovinescu said Friday.
The Montreal-based airline did well in terms of revenue, which rose 10.4 per cent compared with last year’s second quarter, but adjusted earnings dropped to $114 million or 41 cents per share.
That was only about half as much as Air Canada’s adjusted earnings of $226 million or 82 cents per share in the second quarter of 2017, but still better than analyst estimates of 28 cents per share, according to Thomson Reuters Eikon.
Read full story here: Air Canada To Offset Rise In Fuel Prices With Higher Fares, May Trim Capacity | CBC News
