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Canadian Airlines won’t be in the black until 2013
Tuesday, 17 Sep, 2012
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Canadian airlines are looking at a second consecutive year of losses for 2012 says the Conference Board of Canada’s Canadian Industrial Outlook: Canada’s Air Transportation Industry – Summer 2012.
The report says that with fuel prices increasing more than 30 per cent in 2011, the industry lost $900 million last year. Oil prices have tapered off in the first half of this year, so costs will rise at a slower pace than revenues.
The Canadian commercial aviation industry is forecast to lose another $165 million in 2012.
When it does return to the black – a profit of $231 million is expected in 2013 – the profit margin will be only 1.2 per cent, well below the margins of recent years.
Source: Conference Board of Canada
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