Jazz Air, Air Canada's regional partner, reported a net profit of C$134.8 million ($109.9 million) in 2008, down 10.5% from the C$150.7 million earned in 2007, on a 9.4% rise in revenue to C$1.64 billion. Operating expenses were up 10.9% to C$1.49 billion and operating profit fell 3.2% to C$148.3 million. The airline said it earned 71% of the performance incentives available under its capacity purchase agreement with AC, totaling C$15.7 million. Fourth-quarter profit of $34.9 million was ...

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