Air Canada posts bigger net loss in fourth quarter, revenue rises

MONTREAL -- Air Canada (TSX:TSX), Canada's largest airline, says it had a bigger net loss in the fourth quarter last year than in the same period in 2015 as costs rose more than revenue.

For the final three months of 2016, the Montreal-based airline reported a $179-million net loss (66 cents per share), compared with a $116-million net loss (41 cents per share) in the fourth quarter of the previous year.

See Full Article



Advertisements

Latest Economic News

  • Pension fund manager OMERS earns 11.5 per cent return after all expenses in 2017

    Economic CTV News
    TORONTO -- Pension fund manager OMERS earned an investment return of 11.5 per cent after all expenses last year, topping the 10.3 per cent result it posted in 2016. The defined-benefit pension plan for Ontario's municipal employees said all of its major asset classes performed well for the year. Source
  • Ottawa vows legislation allowing firms to settle corporate corruption

    Economic CTV News
    OTTAWA -- The Canadian government is vowing to introduce legislation for corporate wrongdoing that could help SNC-Lavalin Group Inc. address criminal charges. The government says deferred prosecution agreements (DPA), which were called for in public consultations last fall, will be another tool used by judges to hold companies accountable. Source
  • TD Bank stops allowing customers to use credit cards to buy cryptocurrency

    Economic CTV News
    TORONTO -- TD Bank says it is taking a pause on allowing customers to use its credit cards to buy cryptocurrency. The big bank says it made the decision to conduct a review and assessment of the evolving market. Source
  • Auto sales to dip in most provinces, led by Ontario's 3.1% drop, Scotiabank says

    Economic CBC News
    Scotiabank says that slower job creation and weaker gains in household wealth will likely contribute to softer Canadian sales of cars and light trucks this year. That would put an end to a five-year string of growth that included a record high 2.04 million vehicles sold in 2017. Source
  • Auto sales to dip in most provinces: Scotiabank

    Economic CTV News
    TORONTO -- Scotiabank says that slower job creation and weaker gains in household wealth will likely contribute to softer Canadian sales of cars and light trucks this year. That would put an end to a five-year string of growth that included a record high 2.04 million vehicles sold in 2017. Source
  • Inflation cools to 1.7 per cent, but underlying rate continues to heat up

    Economic CTV News
    OTTAWA -- The annual pace of inflation cooled to 1.7 per cent last month -- but rising prices underneath the turbulence of this headline number suggest the Bank of Canada is unlikely to veer from its interest-rate hiking path. Source
  • Defunct Ontario mining company fined $1.3 million in 2014 worker deaths

    Economic CTV News
    The Ontario government says a now-bankrupt mining company has been fined $1.3 million in connection with the deaths of two workers in 2014. The Ministry of Labour says First Nickel Inc., was convicted of six charges under the province's Occupational Health and Safety Act and mining regulations, after two workers were killed by falling material at the Lockerby Mine in Chelmsford, Ont. Source
  • General Mills buying Blue Buffalo Pet Products for $8B US

    Economic CBC News
    Cheerios cereal maker General Mills Inc. will buy Blue Buffalo Pet Products Inc. for nearly $8 billion US, seeking to tap burgeoning demand for natural pet food and offset falling sales for processed items. The acquisition announced Friday is the latest by a major food company seeking to expand in faster growing areas such as pet- and organic-food amid falling demand for established brands. Source
  • RBC hikes dividend as flat first-quarter profit still beats expectations

    Economic CBC News
    RBC's increase to its common share dividend came as the lender saw strong results across its divisions for the quarter ended Jan. 31, but also recorded a writedown due to U.S. Source
  • Enterprise ends car rental discount for NRA members

    Economic CTV News
    Car rental company Enterprise says it is ending a discount program for National Rifle Association members. The company tweeted late Thursday: "All three of our brands have ended the discount for NRA members. This change will be effective March 26. Source