09:56 AM EST - ACE Aviation Holdings Inc. : reported full-year results for 2011 and announced its intention to seek shareholder approval for its winding-up, the distribution of its remaining net assets and ultimately its dissolution in the future. For 2011, ACE recorded a loss and reduction in net assets in liquidation of $90 million. This includes unrealized losses of $76 million and $5 million respectively on ACE's investment and warrants in Air Canada. ACE recorded income of $35 million in 2010, which included a gain on the sale of ACE's investment in Air Canada of $26 million, unrealized gains of $15 million on the investment, ACE's proportionate share of Air Canada's loss, after adjustments, of $14 million and an unrealized gain of $5 million on ACE's warrants in Air Canada. ACE Aviation Holdings Inc.
shares T.ACE.A are trading up $0.45 at $11.30.
