Gains on foreign exchange of C$355 million pushed Air Canada into the black in the second quarter, for which it reported net income of C$155 million ($144.5 million), up 33% over a C$122 million profit in the year-ago period. But AC reported a C$113 million operating loss, reversed from a C$7 million operating profit in the year-ago period, citing "reduced air travel demand, particularly high-yield traffic, due to the weakened economy and competitive pricing initiatives to stimulate demand." ...

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