Air Canada financial results add to 'already confident outlook'

Air Canada reported (15-Feb-2019) long term debt and finance leases of CAD6.65 billion (USD5.02 billion) as of 31-Dec-2018, due to the impact of the weaker Canadian dollar. The airline reported a better cash flow than expected in 2018 of CAD791 million (USD597 million), attributable to lower than projected capital expenditures, better than expected cash through working capital and stronger than expected operational income. The carrier also reported a Return on Invested Capital of 12.6% in 2018, in line with previous projections. Air Canada president and CEO Calin Rovinescu said the airline recorded unrestricted liquidity of more than CAD5.7 billion (USD4.3 billion) as of 31-Dec-2018, positioning the airline "well" towards investment grade. Mr Rovinescu said the airline's financially flexible results increase its "already confident outlook". [more - original PR]