RE:RE:RE:RE:RE:Returns changes lyrics to his favorite song...Look at the cash flow statement, the change loss is a non cash event.
I suppose that this loss was caused by the large US$ debt. The strenght of the US$ and the statements in CAD$ caused this adjustment.
But that debt have not to be reimbursed soon, so the impact is only on paper.
More, this US dollar strenght is caused by the global insecurity with the Ukraine situation and the increase of rate by the FED, two temporary envents; in 1 year from now the CAD$ / US $ relation could be different and you could have a profit for the change (with no impact on cash flow - only on paper). The situation could be digested by itself.
This in and out movements are usuals; but they are larger this year.
If they were permanent, if Air Canada have enough operations in US$ (transborder and six freedom trafic) these US dollar could be used for the reimbursment of the debt. Remember that in 2019, (pre-pandemy) Air Canada was naturally hedged in US$.
So, we can wait before being scared..