Air Canada (Montreal) reported a reduced operating loss of C$126 million in the first quarter of 2010 compared to the operating loss of C$188 million in the first quarter of 2009, an improvement of $62 million. Air Canada’s operating revenues increased C$128 million or 5 per cent from the same quarter in 2009. Earnings before interest, taxes, depreciation, amortization and aircraft rent (EBITDAR) of C$138 million increased C$81 million from the first quarter of 2009.

Air Canada reported a net loss of C$85 million in the first quarter of 2010 which included gains on foreign exchange of C$100 million. This compared to a net loss of C$400 million in the first quarter of 2009 which included losses on foreign exchange of C$101 million.