AIR CANADA had C$1.2b net loss for 4Q20 (vs C$152m profit in 4Q19) on 81% lower revenues; and C$4.6b net loss in 2020 (vs C$1.5b profit in 2019) on 70% lower revenues; it ended year with C$8b liquidity. It is cutting 1Q21 capacity by 83% vs 1Q20.

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