Air Canada reports record load factors despite weak traffic
Tuesday, 13 January 2009: Air Canada has reported a load factor of 81.7% for the month of December, lifting 2.9% when compared to 2007 due to a 9.9% drop in group capacity.
For the full year of 2008, load factors also lifted, coming in at 81.4% compared to 79.3% for 2007.? In the reporting period, Air Canada and subsidiary Jazz flew 6.2% less Revenue Passenger Miles (RPM).
“With an 81.4% load factor for the full year, Air Canada and Jazz reported a fifth consecutive year of record load factors in 2008 and once again this December we surpassed previous years’ records for the month,” said Montie Brewer, Air Canada President and CEO.
“These traffic results reflect effective capacity management that, combined with the decline in fuel prices, positions Air Canada well to manage through these challenging economic times.
“In addition, in December we concluded financing arrangements that could provide funding of more than half a billion dollars. These agreements represent significant steps forward in the implementation of our strategy to improve short term and longer term liquidity during the current economic downturn," he adds.
Most North American carriers are reporting stronger load factors for December, 2008 due to massive capacity cuts in relation to the corresponding month in 2007.