MONTREAL - Air Canada says that negative changes to foreign exchange rates drove it to a $231-million net loss in the fourth quarter, but it would have otherwise turned a profit during the three-month period. Air Canada says that negative changes to foreign exchange rates drove it to a $231 million net loss in the fourth quarter, but it would have otherwise turned a profit during the three-month period. That compared with a net profit of $8 million or two cents per share in the fourth quarter of 2017, with $62 million of foreign exchange losses a year earlier. Air Canada’s adjusted net income, which excludes the impact of foreign exchange gains or losses, was $54 million or 20 cents per share, down from $60 million of 22 cents per share a year earlier. Article Continued BelowAnalysts had estimated 15 cents per share of adjusted net income and $4.2 billion of revenue, according to Thomson Reuters Eikon.

Source: thestar February 15, 2019 13:07 UTC