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CP reports healthy 3rd quarter profit

CP reports healthy 3rd quarter profit


Old Oct 28, 99, 3:29 am
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CP reports healthy 3rd quarter profit

Finally! Some good news, in spite of the recent implementation of section 47 and fears that CP traffic would fall off due to uncertainty. Also seems to contradict recent reports of a 'disasterous' September.

Canadian Airlines Corporation today reported an operating profit of $93.4 million and a net income of $71.3 million for the third quarter ended September 30, 1999.

Full story at http://micro.newswire.ca/releases/Oc...2.html/69455-0

[This message has been edited by KenHamer (edited 10-28-1999).]
KenHamer is offline  
Old Oct 28, 99, 8:54 am
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Hats off for CP!!!

Maybe it's not that bad after all and CP can survive by itself!

Andrew Yiu is offline  
Old Oct 28, 99, 9:27 am
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It's not that good either -- listen carefully to what Benson is saying. AA is allowing CP to defer payments to AA to help it through. Their cash is down and they still have a few minefields ahead.

I do wish them well and it looks like some of their strategies are finally paying off.
BlondeBomber is offline  
Old Oct 28, 99, 3:21 pm
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For all you CP experts out there, I have a question. I frankly haven't paid much attention to the woes of CP, as they did not affect me. However, now I am looking at using AS miles for an award on CP but not until probably late summer next year. My question is this. Do you think it is foolish or risky to bank on this award being available then? I want to make the reservation early as I want Business Class seats (2) to Europe. There are a number of other airline options for my miles, but they all cost more miles than CP and CP makes sense for me as I will probably fly out of YVR. I acknowledge you are not fortune tellers, but do you have any thoughts or advice on this?
TravelWeary is offline  
Old Oct 28, 99, 3:27 pm
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I would say go ahead and get the award on CP. The two offers that are out there would invlove the continued acceptance of CP tickets. If the Onex bid goes ahead http://talk.flyertalk.com/forum/frown.gif your tickets will be good for travel on the new Air Canada, and if the Air Canada bid works out http://talk.flyertalk.com/forum/smile.gif your tickets will be used on Canadian. It seems less and less likely that CP will simply "go under".

If, for whatever reason your tickets are not able to get you to your destination, it would be AS's problem as to how to get you there.

Fisch is offline  
Old Oct 29, 99, 12:25 pm
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Thanks Fisch. The reason I am gun shy here is that I was unfortunate enough to hold two NWA award tickets to Montreal for travel during the time NWA went on strike. Although NWA rebanked my miles (although they balked a bit about doing so before the strike actually happened) and waived the fee (real big of them!), I was still left a week before my vacation with no place to go. How much help were they? Their advice was to physically go to the airport the day of my scheduled departure, and then see what they could do for me! This was a little too risky for me as I had hotel deposits and train reservations on the line too. I don't want a repeat of this, but CP's redemption mileage amounts are so attractive.

By the way, I am a Fischer, any chance that's where the Fisch comes from?
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