Air Canada narrowed its first-quarter net loss to CAD$19 million

from CAD$112 million in the same quarter last year. Passenger revenue per available seat mile grew 2 percent year over year on a 4 percent yield increase as the carrier raised fares and fuel surcharges "to partly offset higher fuel prices." Air Canada now expects systemwide capacity to grow by no more than 4.5 percent this year, 2 percentage points lower than its initial 2011 guidance.