Air Canada reported a 2008 net loss of C$1.03 billion ($827.6 million), reversed from a profit of C$429 million in 2007, citing "unprecedented volatility on fuel prices, significant fluctuations in foreign exchange and a worsening global economy." The Canadian dollar, which provided AC a boost when it was on par with the US dollar in 2007 and early 2008, dropped rapidly in the fourth quarter, driving a net loss on foreign exchange of C$655 million last year. AC posted a C$317 million net ...

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