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Company News

Air Canada profit more than doubles on tax gain

Oct 25 (Reuters) - Air Canada, the country’s largest airline, said its third-quarter profit more than doubled, helped by an income tax gain.

Net earnings rose to C$1.79 billion ($1.41 billion), or C$6.44 per share, in the quarter ended Sept. 30, from C$768 million, or C$2.74 per share, a year earlier.

The company recorded a net income tax recovery of C$793 million in the latest quarter.

Air Canada said operating revenue rose to C$4.88 billion from C$4.45 billion due to higher passenger traffic. ($1 = C$1.2694) (Reporting by John Benny in Bengaluru; Editing by Savio D’Souza)

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