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Air Canada reports 2009 fourth quarter and full year results

reported a reduced operating loss of $83 million in the fourth quarter of 2009 compared to an operating loss of $146 million in the fourth quarter of 2008, an improvement of $63 million. Air Canada reported a net loss of $56 million in the fourth quarter of 2009 which included gains on foreign exchange of $108 million. This compared to a net loss of $727 million in the fourth quarter of 2008 which included losses on foreign exchange of $527 million.

For fiscal 2009, Air Canada reported an operating loss of $316 million compared to an operating loss (before the provision for investigations and proceedings) of $39 million in 2008. EBITDAR amounted to $679 million, a decrease of $255 million from 2008. For fiscal 2009, Air Canada recorded a net loss of $24 million compared to a net loss of $1.03 billion in 2008.

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