Avcorp loses millions in third quarter

18 November 2019

Airframe structure maker Avcorp suffered an operating loss of CAN5.2 million (USD3.9 million) in the third quarter of 2019 due to several factors, including labour unrest and a delivery downturn caused by the Boeing 737 MAX grounding, according to the Vancouver, Canada-based company.

The figure represented a sharp turnaround from the same period a year ago, when Avcorp reported operating income of CAN41.8 million. Revenue in the latest quarter was USD37.4 million, down 16.6% from a year ago, Avcorp said on 14 November.

Avcorp's Delta facility in British Columbia experienced labour disruptions and a nine-day lockout, which hurt the site's performance but Avcorp said that a newly ratified labour agreement for Delta will last until March 2025, "bringing the company long-term stability".

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