Air Canada reported net income of C$429 million ($426.3 million) for 2007, significantly turned around from a net loss of C$74 million in 2006, crediting "an unrelenting focus on cost reduction" and the strength of the Canadian dollar for the strong result. The carrier also benefited from net gains on foreign currency monetary items of C$317 million. "Our new revenue model continues to perform well," President and CEO Montie Brewer said, adding that AC's cost control "fundamentals" and ...

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