ACE Aviation Holdings, parent of Air Canada, announced it will lay off 600 management and salaried employees, representing 20% of the nonunion workforce, as it reported a fourth-quarter net loss of C$103 million ($89.7 million), largely attributed to a C$146 million increase in fuel expense during the seasonally weak fall quarter although other costs rose as well. ACE reported a slender profit of C$15 million in the 2004 fourth quarter owing to foreign exchange gains. "The decision to reduce ...

Subscribe to Access this Entire Article

"Printer-friendly" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.

Already registered? here.