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Jazz Air Income Fund reported a 20 per cent drop in third quarter profits Thursday.
Jazz reported a drop in both third quarter profit and revenues Thursday. (CBC)Jazz, the regional carrier spun off when Air Canada emerged from court protection from creditors in 2004, earned $25.3 million, compared with $31.7 million in the same period in 2008.
Operating revenue fell 13 per cent to $379.7 million, compared with $437.4 million last year.
The fund said that drop resulted from a $60 million drop in revenues related to changes made in July to the terms of the agreement under which Air Canada purchases all of Jazz's fleet capacity based on predetermined rates.
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