10:06 AM EST - Air Canada : has reduced its first-quarter net loss to $34 million, from a year-earlier $126 million, as passenger revenue rose seven per cent and overall operating revenue climbed 5.8 percent to $2.53 billion. The latest quarter included gains of $34 million on derivatives and $33 million in foreign-exchange items, the Montreal-based airline said Friday. Its operating loss shrank to $78 million from $124 million. Air Canada
shares T.AC.B are trading off 45 cents at $15.55.
