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Air Canada Sale AIRLINE SALE BOOK ONLINE OR CALL 1-888-286-8789 AIR CANADA $1B LOSS Air Canada stock falls after $1 billion loss for 2008 Canadian Press Air Canada shares plunged Friday morning after the airline announced it lost more than $1 billion last year, primarily because of volatile fuel prices and foreign exchange rates. The Montreal-based airline reported a fourth-quarter loss of $727 million or $7.27 per share and a full-year loss of loss of $1.03 billion or $10.25 per share, reversing year-earlier profits. Its B shares fell to as low as $1.36 shortly after the beginning of trading. A few minutes later, they were back to $1.52 - still down 41 cents or 21 per cent from Thursday's close. The fourth quarter included a foreign exchange loss of $527 million caused by relative weakness in the Canadian dollar, as well as a $177 million spike in fuel prices compared to year-earlier costs. The company reported an operating loss of $146 million for the quarter ended Dec. 31, 2008, reversing gains of $72 million during the corresponding quarter of 2007. In 2007, Air Canada had an annual profit of $429 million or $4.27 per share, including $35 million or 35 cents per share in the fourth quarter of that year. The airline said the 34 per cent surge in fuel costs in 2008 added about $900 million in additional expenses for last year. The company booked an operating loss of $39 million, down from operating income of $433 million recorded the year before. ``2008 was a year marked by unprecedented volatility in fuel prices, significant fluctuations in foreign exchange and a worsening global economy," Air Canada chief executive Montie Brewer said in a statement. ``Our fourth quarter and full year results reflect these challenges. However, we have a well-established track record of adapting to challenges.'' Brewer said Air Canada would look to cut $120 million worth of costs in 2009 primarily through fuel efficiency improvements and a supplier concession program. Useful Travel Websites Call...Click or Book Online! Copyright © Just Travel Deals All Rights Reserved. 700 Balmoral Drive, Suite 10B, Brampton, Ontario, L6T 1X2, Canada www.JustTravelDeals.ca | rosario@justtraveldeals.ca | 1-888-286-8789 or 905-799-3000 Contact Us Home |Cheap Vacations | Cheap Flights |Hotel Deals | Cheap Car Rentals |Last Minute Vacations | Winter Vacations | Cheap Cruises | Florida Vacations | All Inclusive Vacations | Cuba Vacations| Caribbean Vacations | Mexico Vacations| Central Amercia| South America | Dominican Vacations | Las Vegas Deals| Fall Vacations | March Break Vacations| Flights to Italy| Flights to Ireland| Flights to Germany | Flights to France | Flights to Asia| Flights to U S A
AIRLINE SALE BOOK ONLINE OR CALL 1-888-286-8789 AIR CANADA $1B LOSS Air Canada stock falls after $1 billion loss for 2008 Canadian Press Air Canada shares plunged Friday morning after the airline announced it lost more than $1 billion last year, primarily because of volatile fuel prices and foreign exchange rates. The Montreal-based airline reported a fourth-quarter loss of $727 million or $7.27 per share and a full-year loss of loss of $1.03 billion or $10.25 per share, reversing year-earlier profits. Its B shares fell to as low as $1.36 shortly after the beginning of trading. A few minutes later, they were back to $1.52 - still down 41 cents or 21 per cent from Thursday's close. The fourth quarter included a foreign exchange loss of $527 million caused by relative weakness in the Canadian dollar, as well as a $177 million spike in fuel prices compared to year-earlier costs. The company reported an operating loss of $146 million for the quarter ended Dec. 31, 2008, reversing gains of $72 million during the corresponding quarter of 2007. In 2007, Air Canada had an annual profit of $429 million or $4.27 per share, including $35 million or 35 cents per share in the fourth quarter of that year. The airline said the 34 per cent surge in fuel costs in 2008 added about $900 million in additional expenses for last year. The company booked an operating loss of $39 million, down from operating income of $433 million recorded the year before. ``2008 was a year marked by unprecedented volatility in fuel prices, significant fluctuations in foreign exchange and a worsening global economy," Air Canada chief executive Montie Brewer said in a statement. ``Our fourth quarter and full year results reflect these challenges. However, we have a well-established track record of adapting to challenges.'' Brewer said Air Canada would look to cut $120 million worth of costs in 2009 primarily through fuel efficiency improvements and a supplier concession program. Useful Travel Websites Call...Click or Book Online! Copyright © Just Travel Deals All Rights Reserved. 700 Balmoral Drive, Suite 10B, Brampton, Ontario, L6T 1X2, Canada www.JustTravelDeals.ca | rosario@justtraveldeals.ca | 1-888-286-8789 or 905-799-3000 Contact Us Home |Cheap Vacations | Cheap Flights |Hotel Deals | Cheap Car Rentals |Last Minute Vacations | Winter Vacations | Cheap Cruises | Florida Vacations | All Inclusive Vacations | Cuba Vacations| Caribbean Vacations | Mexico Vacations| Central Amercia| South America | Dominican Vacations | Las Vegas Deals| Fall Vacations | March Break Vacations| Flights to Italy| Flights to Ireland| Flights to Germany | Flights to France | Flights to Asia| Flights to U S A