Air Canada is enjoying a recovery in business travel, after teetering on the edge of bankruptcy last spring, and analysts are turning bullish again on the country's largest carrier. Air Canada has been able to raise cash and win union concessions, plus its young fleet means it will save money on maintenance. WestJet, Canada's No. 2 airline, also sees its fortunes improving, but analysts expect a less dramatic turnaround because the company managed to stay profitable throughout the downturn.

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