Air Canada cuts its earnings forecast as fuel costs climb

Air Canada now expects adjusted earnings of $2.4 billion to $2.7 billion this year, down from the $2.9 billion to $3.2 billion it forecast less than three months ago.

Net income fell 47 per cent to $139 million in the third quarter, and fuel costs rose $906 million from a year earlier. Revenue still hit a third-quarter record of $6.98 billion as the airline raised fares.

And us?

Airfares in Canada, September, year over year

19.4 % increase

Airfares in Canada rose 19.4 per cent in September from a year earlier, according to Statistics Canada, and an analyst says Air Canada has raised fares further in recent weeks.