Feb 18 (Reuters) - Air Canada AC.TO :
* AIR CANADA REPORTS 2019 ANNUAL RESULTS
* "WE START 2020 WITH UNCERTAINTY FROM ON-GOING BOEING 737 MAX GROUNDING"
* QTRLY EARNINGS PER SHARE $0.56
* WE START 2020 WITH UNCERTAINTY FROM EMERGING ECONOMIC AND GEOPOLITICAL RISKS AND ROUTE SUSPENSIONS RESULTING FROM COVID-19 VIRUS
* Q1, FY OUTLOOK OF BOTH EBITDA & ASM CAPACITY GROWTH ASSUMES CO'S MAINLAND CHINA & HONG KONG SERVICES TO BE RECOVERED BY Q3 OF 2020
* AIR CANADA EXPECTS Q1 2020 EBITDA TO BE APPROXIMATELY $200 MILLION LOWER THAN Q1 OF 2019
* FOR FULL YEAR 2020, EXPECTS ASM CAPACITY TO INCREASE 1 TO 2 PER CENT WHEN COMPARED TO FULL YEAR 2019
* QTRLY OPERATING REVENUES $4,429 MILLION VERSUS $4,227 MILLION
* SEES CUMULATIVE FREE CASH FLOW OF $4.0 BILLION TO $4.5 BILLION OVER 2019 TO 2021 PERIOD
* FOR FULL YEAR 2020, AIR CANADA PROJECTS AN EBITDA MARGIN OF APPROXIMATELY 19 PER CENT
* QTRLY ADJUSTED EARNINGS PER SHARE $0.17
* HAS BEEN IN DISCUSSIONS WITH BOEING AND IS SEEKING TO SETTLE TERMS OF AN ARRANGEMENT IN RELATION TO GROUNDING OF BOEING 737 MAX AIRCRAFT
* SEES 2020 AIRCRAFT MAINTENANCE EXPENSE TO INCREASE BY ABOUT $150 MILLION FROM 2019, WITH ONE-THIRD OF INCREASE TO BE INCURRED IN Q1 2020
* Q4 EARNINGS PER SHARE VIEW C$0.38, REVENUE VIEW C$4.53 BILLION -- REFINITIV IBES DATA
* IN Q4 2019, ON A CAPACITY INCREASE OF 3.3%, SYSTEM PASSENGER REVENUES OF $3.975 BILLION INCREASED $199 MILLION
* Q1, FY OUTLOOK FOR EBITDA, ASM CAPACITY GROWTH ALSO ASSUMES BOEING 737 MAX AIRCRAFT TO GRADUALLY RETURN TO SERVICE STARTING IN LATE Q3 2020