MONTREAL — Air Canada’s fourth-quarter revenue and adjusted earnings came in ahead of analyst estimates, as the Montreal-based airline posted record-high annual revenue for 2017.Its adjusted net income was $61 million, or 22 cents per share for the quarter — ahead of analyst estimates of 14 cents per share, according to Thomson Reuters data.The airline’s operating revenue was $3.82 billion in the fourth quarter, up from $3.43 billion a year earlier and above the estimate of $3.745 billion.Net income was $8 million or two cents per share for the three months ended Dec. 31, which was an improvement over a 2016 fourth-quarter loss of $179 million but lower than expected.Analysts had estimated 15 cents per share of net income.“Overall, we liked what we saw in the Q4 results,” wrote analyst Walter Spracklin of RBC Dominion Securities in a note to clients.He added that Air Canada’s new guidance shows its costs will be higher in the first quarter and full year than the RBC estimate, and includes a number of one-time costs.Spracklin said analysts would be looking for more information about management’s margin expectations for 2018, which weren’t mentioned in the press release.Companies in this story: (TSX:AC)

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first_imgSix stories in the news for Tuesday, June 27———U.S. SLAPS ADDITIONAL DUTIES ON CANADIAN SOFTWOODCanadian softwood now faces average duties of about 27 per cent after the U.S. Department of Commerce added another 6.87 per cent in preliminary anti-dumping tariffs. The new duty will overlap for about two months with preliminary duties of 19.88 per cent announced in April that are set to expire Aug. 27. Nova Scotia, P.E.I. and Newfoundland and Labrador are not included in the latest tariff.———CANADA AWAITING MORE DETAILS ON U.S. TRAVEL BANThe Trudeau government is waiting for more details now that the U.S. Supreme Court has partially reinstated President Donald Trump’s ban on travellers from six mainly Muslim countries. But a spokesman for Immigration Minister Ahmed Hussen says dual nationals from the affected countries travelling on Canadian passports won’t fall under the restrictions. This also applies to Canadian permanent residents from the six countries who carry valid resident cards and valid U.S. visas, and are deemed eligible to enter the U.S.———INQUIRY TO BE HELD INTO ONTARIO NURSING HOME MURDERSThe case of a nurse who murdered eight seniors in long-term care homes in Ontario will be the subject of a public inquiry. Elizabeth Wettlaufer pleaded guilty last month to eight counts of first-degree murder and other charges and was sentenced Monday to life in prison with no eligibility for parole for 25 years. The province is finalizing the details of the inquiry and will make them public once approved by cabinet.———JURY SET TO DELIBERATE IN B.C. HARASSMENT CASEA B.C. jury is expected to hear the judge’s instructions today before starting deliberations in the case of a man accused of harassing his ex-wife. Patrick Fox is charged with criminal harassment over alleged online communications and publications regarding his ex-wife Desiree Capuano. Jurors have heard Fox maligned Capuano as a stripper, a white supremacist and a drug user.———FOOD SUBSIDY APPROVED FOR CUT-OFF TOWNChurchill will be covered by the federal government’s Nutrition North food subsidy program until the Manitoba town’s only land link to the outside world is restored. The community of 900 on the western shore of Hudson Bay has been cut off since the rail line into town was badly damaged by spring flooding. Without the rail line, goods and people have to be flown in to Churchill at a much higher cost. Nutrition North is normally used to offset a portion of the extra costs of shipping food by air.———‘COME FROM AWAY’ A FOUR-PRIZE WINNER AT DORASCanadian smash “Come From Away” won four prizes at the Dora Mavor Moore Awards on Monday, including best production in the musical theatre category. The homegrown musical about Newfoundland hospitality after the 9/11 attacks is currently on an award-winning run on Broadway. The Mirvish production also took home the best new musical/opera award, and an outstanding female performance prize for Jenn Colella for her portrayal of real-life retired airline Capt. Beverley Bass.———ALSO IN THE NEWS TODAY:— Italian President Sergio Mattarella is in Ottawa for a state visit.— Catherine Tully, the Information and Privacy Commissioner for Nova Scotia, will release her 2016-2017 annual report.— Ontario Ombudsman Paul Dube will release his annual report for the 2016-2017 fiscal year.— Environment Minister Catherine McKenna will meet with her U.S. and Mexican counterparts in Charlottetown.last_img

first_imgMUNICH — U.S. Sen. Lindsey Graham said Friday the response by the United States to China detaining two Canadians in apparent retaliation for the arrest of a Chinese Huawei executive has not been strong enough.Graham also told Munich Security Conference delegates the international reaction to China’s arrest of ex-diplomat Michael Kovrig and entrepreneur Michael Spavor hasn’t been enough to persuade China that its apparent use of hostage diplomacy won’t be tolerated.“The president has been tough on China but this is one area where I think we need to make a more definitive statement, because the two people arrested in China had nothing to do with the rule of law. It was just grabbing two Canadians,” Graham said.Foreign Affairs Minister Chrystia Freeland, who appeared on the panel with Graham, mouthed the words “thank you” to Graham after he said it. Roland Paris, one of the delegates and a former foreign policy adviser to Prime Minister Justin Trudeau, asked Graham about it.U.S. ambassador to Canada Kelly Craft said last Saturday her country is “deeply concerned” about China’s “unlawful” detention of the two Canadians in what was her first public comments on the cases since China detained them on Dec. 10 in an apparent attempt to pressure Canada to release Chinese executive Meng Wanzhou, who was arrested Dec. 1 at the request of U.S. authorities.Meng is the chief financial officer of the Chinese tech giant Huawei and the daughter of its founder. The U.S. wants her extradited to face charges that she committed fraud by misleading banks about Huawei’s business dealings in Iran.China also re-sentenced a convicted Canadian drug smuggler, Robert Schellenberg, to death after the Meng arrest as part of an apparent campaign of intimidation and retribution against Canada.Some analysts have said the U.S. response to China’s arrests of the two Canadians has been muted. President Donald Trump himself has not commented on the Canadians. But U.S. Secretary of State Mike Pompeo has, saying China ought to release them. White House spokeswoman Sarah Sanders and the State Department have issued brief statements of support.Beijing threatened grave consequences for America’s neighbour and longtime ally after Meng was arrested at Vancouver’s airport.Canada has embarked on a campaign with allies to win the release of Kovrig and Spavor, and many countries have issued statements in support.“These are human beings and they only thing they did was be Canadian in China,” Freeland said. Freeland said she would be grateful if more countries spoke out.“We will all be stronger and safer if we all can do that for each other,” she said. “We can’t descend to a might-makes-right world and that’s especially essentially for middle powers.”The two Canadians were detained on vague allegations of “engaging in activities that endanger the national security” of China. They remain locked up without access to lawyers.Meng is out on bail in Canada and awaiting extradition proceedings.___Associated Press writer Rob Gillies in Toronto contributed to this report.The Associated Presslast_img

first_imgTodd Lamirande APTN National NewsBritish Columbia Premier Christy Clark has repeatedly said construction of the Site C dam is at a point of no return.But don’t tell that to the people on Parliament Hill today.Despite torrential rains and a poor turnout, the message was clear.tlamirande@aptn.calast_img

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