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 ...

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