February 9, 2012
Air Canada reports fourth quarter net loss of $60m
Air Canada reported a net loss of $60m in the fourth quarter of 2011, which included foreign exchange gains of $114m, compared to net income of $89m in the fourth quarter of 2010, which included foreign exchange gains of $136m, an impairment charge on aircraft of $49m and a net favourable adjustment to the provision for cargo investigations of $46m.
For the full year, Air Canada reported a net loss of $249 million in 2011, which included foreign exchange losses of $54m, compared to a net loss of $24 in 2010, which included foreign exchange gains of $18m, an interest expense charge on the repayment of the term credit facility of $54m, an impairment charge on aircraft of $49m, and a net favourable adjustment to the provision for cargo investigations of $46m.
