Air Canada reports second quarter results

Air Canada has reported second quarter revenues of C$5.5bn ($4bn), up 2% over the same period last year. The company’s operating income was C$466 million ($338.9 million), with an operating margin of 8.4%, down $336 million ($244.4 million) from the previous year. Operating expenses increased by 9% to C$5.1bn ($3.7bn) in the second quarter. As a result, it reported a net income of C$410 million ($298.2 million), or C$1.04 diluted earnings per share, compared to C$838 million ($609.5 million) or C$2.34, respectively, the year prior. Air Canada’s free cash flow for the quarter was C$451 million ($328.2 million). The airline