Originally Posted by
CloudsBelow
Ahh. OK. These stats are meaningless. not as meaningful as the stats pointing to eroding Premium Yield that so many were happy to quote in Q1 supporting their "TPAC tango will doom AC", "Rouge will doom AC", "Obvious premium passengers have left AC in droves" sentiments .... When I get some time, I will be sure to review those threads to be sure you're not talking out of both sides of your mouth.
You are able to cut through increased RASM, faster-than-expected decreased CASM, Premium Class revenues rising 3.3%, and a 25% jump in share price.
That is some spin from AC. Sure is fooling a lot of people. Not you though.
(as a side note, I'm not long on AC.TSX (and would never go too long on an airline stock) but saw a great opportunity ahead of their results release today).
Bottom line, an impressive quarter for AC and they deserve it.
I am not sure I agree with you. Canadian dollar has dropped 3-4%. That is probably $10m right there. And the markets have had a huge upswing. I would bet a loonie that the other $110m is in increased value of pension fund holdings. But given the "quality" of the earnings press release, there is just no way to know. Other than they used non-GAAP ways to get there. Which is suspicious as heck. Especially since every other time I see non-GAAP numbers used, companies are explicit as to what and why. AC wasn't.
But heck--I didnt bet on them today either. And I guess you are whatever x 125% richer. And I am not. So you get the last laugh anyway!
