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Air Canada posted a net loss of C$231m (US$174.3m) in the Q4, as foreign-exchange losses cost the carrier $262m more than in the year-earlier period, when it posted a net profit of $8m. The bottom-line result masked improving fundamentals, the airline’s top executive said. “These quarterly results showed an improvement over last year’s Q4 on many fronts—including passenger revenues, traffic and yield—and complete a strong fiscal year,” Air Canada president and CE Calin Rovinescu said. “Moreover, they demonstrate the resiliency of our business model and affirm that Air Canada has positioned itself for long-term, sustainable profitability.” The carrier posted record Q4 revenues of $3.8b, up 11.3%, while revenue passenger miles climbed 7.2% on a 5.8% capacity increase. Yields grew 3.8%. <br/>

LOT will base an Embraer E195 at Budapest Airport in Hungary and add 2 new routes, serving Brussels in Belgium and Bucharest in Romania, as it seeks to build a connecting hub at the airport. With the 2 route additions, LOT will serve 7 destinations from Budapest, including Chicago, Kraków, London City, New York JFK and Warsaw. The routes will launch Sept 2. They will be operated twice-daily, 6 days per week, by LOT’s 3-class E195s. LOT CE Rafał Milczarski said Brussels and Bucharest are “underserved” by full-service airlines from Budapest. Budapest said this growth will make LOT “one of the main hub airlines at the airport.” Budapest recently announced a E700m (US$790m) development program, aimed at increasing capacity and improving the passenger experience. <br/>