Canada Jetlines Operations Ltd (TSE:CJET) has released an update.
Canada Jetlines Operations Ltd. reported a significant increase in Q4 2023 operating revenues, totaling $9.9 million, which is a 205.1% rise compared to the previous year, attributed to expanded flight services and increased aircraft utilization. Despite the revenue growth, the company experienced a net loss of $7.1 million, which is an increase from Q4 2022, due to higher fixed costs associated with fleet expansion. The full year also saw an improved cash flow from operating activities, indicating a stronger operational performance.
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