09:42 AM EST - Air Canada : reported a net loss for the fourth quarter, hurt by foreign exchange losses as well as a decline in revenues. The company reported a net loss of $727 million in the just concluded period, including net losses on foreign exchange of $527 million. In the year-ago period, the carrier reported net income of $35 million, including net gains on foreign exchange of $20 million. Air Canada reported a loss per share of $7.27 on an unadjusted basis, compared to earnings per share of $0.35 in the previous year. On an adjusted basis, removing losses on foreign exchange of $527 million as well as a loss on capital assets of $5 million, the airline reported a loss per share of $1.95 for the fourth quarter of 2008. Operating revenues declined to $2.498 billion from $2.513 billion in the same period last year. The company reported an operating loss of $146 million for the fourth quarter of 2008, compared to operating income of $72 million in the fourth quarter of 2007. Air Canada
shares T.AC.A are trading down $0.34 at $1.61.
