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To: patron_anejo_por_favor who wrote (115111)	8/1/2001 9:57:13 AM
From: Step1	Respond to of 436258

Sorry if this has been posted already, >>> No recovery in the 3rd and 4th quarter as per Air Canada biz.yahoo.com The loss -- propelled by sharply reduced business travel on a weaker North American economy, increased low-fare domestic competition, higher salaries, wages and benefits and greater fuel expenses -- was almost twice the loss of 52 Canadian cents expected by analysts polled by Thomson Financial/First Call. Air Canada said its yield for each revenue-passenger-mile fell 7 percent to 19.4 Canadian cents from 21 Canadian cents a year ago, while its passenger load factor was steady at 73.4 percent. The world's No. 10 airline, Montreal-based Air Canada said it no longer expected a strong recovery in the third and fourth quarters. Instead, the airline expects to break even in the third quarter and lose money in the fourth quarter of 2001 and first quarter of 2002. Air Canada President and Chief Executive Robert Milton said the airline's steep revenue drop in May was unprecedented, prompting the airline to forecast an overall revenue drop of ''several hundred million dollars'' for the year from 2000. ``It is clear that the strong third and fourth quarter recovery we were all hoping for will not materialize. The dramatic decline in business traffic, the customer base on which Air Canada's profitability has traditionally depended, is continuing into the third quarter with significant impact on financial performance,'' Milton said in a statement.<<<