Air Canada returns to black, eyes ‘Rouge’ as possible name for low-cost carrier

After months of labour unrest and lost profits earlier this year, Air Canada posted a healthy quarterly gain as its planes filled and employee relations calmed.

The carrier announced a third-quarter profit of $429-million, or $1.54 per diluted share, compared with a net loss of $124-million, or 45 cents, a year earlier.

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Shares in Air Canada soared Thursday after the company’s third-quarter results firmly returned it to the black.

At the same time, the country’s largest carrier appears to be eyeing a very different name for the brand of its new low-cost carrier: Red, or “Rouge,” as it were.

Calin Rovinescu, Air Canada’s chief executive, said the airline remains on track to launch its low-cost carrier next year, tentatively slated for June 2013.

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