-INDUSTRY CANADA: Civil aviation financial statistics -- First quarter 1998

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M2 PRESSWIRE-9 June 1998-INDUSTRY CANADA: Civil aviation financial statistics -- First quarter 1998 (C)1994-98 M2 COMMUNICATIONS LTD RDATE:080698 Air Canada reported basic income of $58 million (seasonally adjusted) in the first quarter of 1998. Basic income or loss is measured by combining operating income (before capital gains, miscellaneous items and tax) with interest expenses and interest income.

Air Canada has reported a basic income (as opposed to a loss) for the last eight quarters. These incomes have averaged $53 million over the eight quarters. Canadian Airlines International Ltd. (CAI) reported a seasonally adjusted basic income of just under $1 million in the first quarter of 1998. CAI has reported seasonally adjusted basic incomes in each of the last...