Company News

Air Canada sets new financial targets

Sept 19 (Reuters) - Air Canada, Canada’s largest airlines, raised the higher end of a key profit metric and set new loyalty program targets for 2018 to 2020.

The company said it expected earnings before interest, taxes, depreciation, amortization, impairment and aircraft rent margin to range from 17 percent to 20 percent, up from its earlier forecast of 17 percent to 19 percent.

The airline also said net present value from its loyalty business is expected to range between $2.0 billion and $2.5 billion over a fifteen year period, excluding tax.

Air Canada said in May it would launch its own loyalty program in 2020, replacing the current program, Aeroplan. (Reporting by Anirban Paul in Bengaluru; Editing by Anil D’Silva)