Air Canada posted a staggering $1.16 billion loss in the fourth quarter of 2020, a result that caps off what the company's chief executive called the bleakest year in aviation history. Analysts polled by financial data firm Refinitiv expected Air Canada to lose $735.67 million or $2.84 per share, on revenue of $885.36 million. For the full-year, Air Canada lost $4.65 billion or $16.47 per diluted share on $5.83 billion of revenues. He pointed to Air Canada lowering its capacity outlook for the first quarter from a month ago, reflecting more severe travel restrictions. Air Canada's shares gained $1.07 or five per cent at $22.27 in late morning trading on the Toronto Stock Exchange

Source: CBC News February 12, 2021 18:23 UTC