Air Canada Reports December Traffic; Advises of Fourth Quarter Loss
MONTREAL, Jan. 13 /CNW Telbec/ - Air Canada flew 0.6 per cent fewer
revenue passenger miles (RPMs) in December 2002 than in December 2001,
according to preliminary traffic figures. Capacity increased by 2.5 per cent,
resulting in a load factor of 70.0 per cent, compared to 72.1 per cent in
December 2001; a decrease of 2.1 percentage points.
In comparison to December 2000, revenue passenger miles declined 3.0 per
cent while capacity was reduced by 7.9 per cent. Load factor improved 3.5
percentage points.
"Our December traffic results were negatively impacted by an increase in
competitive capacity in the domestic market resulting in intensified low fare
competition, particularly on the transcon routes," said Rob Peterson,
Executive Vice President and Chief Financial Officer. "This had a dampening
effect on domestic unit revenues."
"While U.S. transborder traffic and load factors were up due to stronger
demand to the eastern U.S. and California, and the fact that a portion of the
Thanksgiving travel period fell within December this year, we nevertheless
experienced significant yield pressures within the North American market. In
Asia, the solid performance of our Japan and China routes continued while the
suspension of our service to Taiwan partially offset this growth in our total
Pacific figures."
At the outset of 2002, Air Canada anticipated a return to profitability
in the seasonably stronger second and third quarters. While this was
achieved, the difficult global airline environment has resulted in a fourth
quarter and full year operating loss. It is anticipated, however, that this
fourth quarter operating loss will be less than the quarterly operating loss
for the same period in each of the past two years.
This discussion contains certain forward-looking statements, which
involve a number of risks and uncertainties. As a result of many factors
including acts or potential acts of terrorism, government regulations and
government mandated restrictions on operations and pricing, fuel prices,
industry restructuring, labour negotiations, the economic environment in
general including foreign exchange and interest rates, the airline competitive
and pricing environment, industry capacity decisions and new entrants as well
as external events, actual results could differ from expected results and the
differences could be material.
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AIR CANADA MAINLINE
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DECEMBER YEAR-TO-DATE
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2002 2001 Change 2002 2001 Change
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Traffic
(RPMs millions) 3,127 3,145 -0.6% 43,135 41,651 +3.6%
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Capacity
(ASMs millions) 4,468 4,360 +2.5% 57,325 57,104 +0.4%
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Load Factor 70.0% 72.1% -2.1 pts 75.2% 72.9% +2.3 pts
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RPMs 936 1,028 -8.9% 13,311 13,181 +1.0%
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Canada ASMs 1,388 1,380 +0.6% 18,154 17,643 +2.9%
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Load Factor 67.4% 74.5% -7.1 pts 73.3% 74.7% -1.4 pts
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RPMs 687 647 +6.2% 7,735 7,858 -1.6%
U.S. _______________________________________________________________
Trans- ASMs 1,066 1,056 +0.9% 11,803 12,006 -1.7%
border _______________________________________________________________
Load Factor 64.4% 61.3% +3.1 pts 65.5% 65.5% +0.0 pts
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RPMs 714 718 -0.6% 11,549 11,119 +3.9%
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Atlantic ASMs 975 915 +6.6% 14,180 14,303 -0.9%
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Load Factor 73.2% 78.5% -5.3 pts 81.4% 77.7% +3.7 pts
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RPMs 522 505 +3.4% 7,889 7,198 +9.6%
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Pacific ASMs 661 655 +0.9% 9,553 9,868 -3.2%
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Load Factor 79.0% 77.1% +1.9 pts 82.6% 72.9% +9.7 pts
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RPMs 268 247 +8.5% 2,651 2,295 +15.5%
Other & _______________________________________________________________
Charter ASMs 378 354 +6.8% 3,635 3,284 +10.7%
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Load Factor 70.9% 69.8% +1.1 pts 72.9% 69.9% +3.0 pts
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