MONTREAL -- Air Canada's fourth-quarter revenue and adjusted earnings came in ahead of analyst estimates, as the Montreal-based airline posted record-high annual revenue for 2017.
Its adjusted net income was $61 million, or 22 cents per share for the quarter -- ahead of analyst estimates of 14 cents per share, according to Thomson Reuters data.
The airline's operating revenue was $3.82 billion in the fourth quarter, up from $3.43 billion a year earlier and above the estimate of $3.745 billion.
Net income was $8 million or two cents per share for the three months ended Dec. 31, which was an improvement over a 2016 fourth-quarter loss of $179 million but lower than expected.
Analysts had estimated 15 cents per share of net income.
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