AIR CANADA POSTS LOSS, WILL CUT STAFF
AIR CANADA POSTS LOSS, WILL CUT STAFF
Air Canada reported a fourth-quarter loss of Canadian $13.2 million
($8.7 million), mainly because of a two-week pilot strike in September.
The airline, which earned C$62 million in the fourth quarter of 1997,
said it would eliminate an additional 450 jobs this year to reduce costs.
The airline has already cut 1,275 jobs.
Air Canada reported a net loss for the year of C$10.6 million, compared
to a net profit of $282 million in 1997.