Air Canada posts record $1.25 billion loss for 2001 Last Updated Thu, 07 Feb 2002 13:07:34 MONTREAL - Air Canada said Thursday it lost a record $1.25 billion last year, its worst financial performance since 1992. Canada's national carrier reported it lost $10.43 a share for 2001. Air Canada's fourth quarter and full year performance reflect the extraordinarily difficult environment in which we and other comparable North American carriers were operating," chief executive Robert Milton said in a news release. Financial analysts say while the airline has benefited from cost-cutting measures, they aren't enough to offset a lack of passengers. "Like the rest of the international airline industry, we experienced an unprecedented decline in business travel due to the economic downturn along with high fuel prices. Then came the devastating impact of Sept. 11," read Milton's release. Air Canada's yearly revenues fell 11 percent, from $10.8 billion to $9.6 billion. Written by CBC News Online staff The owner of Roger's Trinbago Site: Roj (Roger James) *************************************************** Trinbago site: http://www.tntisland.com ICQ: ICQ # 15836110 ICQ Pager: mailto:15836110@pager.icq.com escape email #!1 mailto:ejames@escape.ca yahoo email #2: mailto:triniroj@yahoo.com Yahoo Pager: triniroj Caribbean Brass & Soca Connection Group on Yahoo: http://groups.yahoo.com/group/caribsocabrass Caribbean Brass & Soca Connection Club Website http://www.tntisland.com/caribbeansocabrassconnection/ ******************************************************* Steel Expressions Orch http://www.escape.ca/~ejames/se/ email #1: mailto:steelexpressions@yahoo.com email #2: mailto:steelexpressions@home.com ******************************************************* The Trinbago Site of the Week: (Revellers Mas Band) http://www.revellers.com/ (Trini Revellers Mas Band) courtesy of Roj Trinbago Website & TnT Web Directory Roj's Trinbago Website: http://www.tntisland.com TnT Web Directory: http://195.224.187.36/ *********************************************************