WHY IT RATES:Air Canada continues to shine as it sets a major record. - Eric Bowman, TravelPulse Senior Editor
Air Canada transported close to one million customers throughout the six-day holiday period, during which it achieved a single-day record for passengers carried. On Thursday, June 29, Air Canada welcomed aboard 166,850 customers, a record for Canada's flag carrier, and from June 29 to July 4 over 930,000 customers took flight with Air Canada.
"As Canadians celebrated our country's 150th birthday, Air Canada was hard at work safely transporting record numbers of customers to their destinations. This continues to demonstrate that we are the Canadian carrier of choice for travelers and reinforces our standing as The Best Airline in North America, as voted on for the 2017 Skytrax World Airline Awards," said Calin Rovinescu, President and Chief Executive Officer of Air Canada.
"Our record for passengers carried caps an excellent second quarter during which our EBITDAR, driven by higher revenue and lower than projected fuel costs, is expected to significantly exceed the current average analyst consensus estimate of approximately $475 million. I thank our customers for their loyalty in choosing Air Canada and our 30,000 employees for their hard work and dedication in welcoming and transporting them safely."
The outlook on EBITDAR (earnings before interest, taxes, depreciation, amortization, impairment and aircraft rent) provided in this news release is preliminary and has not been reviewed by Air Canada's auditors and is subject to change as Air Canada's second quarter 2017 financial results are finalized. Please see section below entitled "Caution Regarding Forward-Looking Information".
EBITDAR is a non-GAAP measure used by Air Canada in an effort to provide readers with additional information on its financial and operating performance. Non-GAAP measures are not recognized measures for financial statement presentation under GAAP, do not have standardized meanings, may not be comparable to similar measures presented by other entities and should not be considered a substitute for or superior to GAAP results.
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