Air Canada posts a net loss in the 4Q and 2011

Air Canada (Montreal) reported a net loss of C$60 million in the fourth quarter of 2011, which included foreign exchange gains of C$114 million, compared to net income of C$89 million in the fourth quarter of 2010, which included foreign exchange gains of C$136 million, an impairment charge on aircraft of C$49 million, and a net favorable adjustment to the provision for cargo investigations of C$46 million.

For the full year, Air Canada reported a net loss of C$249 million ($250.2 million US) in 2011, which included foreign exchange losses of C$54 million, compared to a net loss of C$24 million in 2010, which included foreign exchange gains of C$184 million, an interest expense charge on the repayment of the term credit facility of C$54 million, an impairment charge on aircraft of C$49 million, and a net favorable adjustment to the provision for cargo investigations of C$46 million.

Copyright Photo: Keith Burton.

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About Bruce Drum

I have started the ultimate digital photo library of the fascinating world of airliners and airlines. The goal is to have the complete history of all airlines and the various aircraft operated. I have been photographing airplanes since 1965. Join us in this adventure.