2/11/2010

Air Canada dramatically narrowed its net loss for 2009, helped by a favorable exchange rate and cost-cutting moves. The carrier lost CA$24 million last year, down from a CA$1.03 billion loss in 2008. CEO Calin Rovinescu said the company hopes to reduce costs by another CA$500 million by 2011 while "leveraging international growth opportunities" in Europe and Asia.

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