Air Canada stock falls 12% after it posts record earnings

Air Canada is reporting a record adjusted net profit of $1.2 billion for 2015, but its stock plunged 12 per cent in Wednesday trading after a challenge to short-term investors from CEO Calin Rovinescu.Adjusted earnings, which remove the effects of foreign exchange, fuel hedging contracts, employee benefits and other unusual items, are a closely watched metric at Air Canada.
The previous record, set in 2014, was $531 million.
But since then, Air Canada has increased its traffic, improved operatin