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Avcorp loses millions in third quarter

18 November 2019
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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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