Air Canada 2007 Annual Report Download - page 3

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3
MESSAGE FROM ROBERT MILTON
During the past year your company accomplished a tremendous amount
and 2007 was a success both from an operational and fi nancial standpoint.
Air Canada continued to be a global leader and innovator in the industry and it
is primed to perform to the high expectations set for it.
Air Canada carried 33 million passengers safely to their destination in 2007
and posted an impressive full year load factor of 80.6 per cent. This was the
company’s fourth consecutive annual record load factor, which is noteworthy
given capacity increased 2.8 per cent over the previous year. Travellers are making
Air Canada their airline of choice and it was selected the “Best Airline in North
America” in a worldwide survey of 14 million airline passengers conducted by
Skytrax.
Air Canada also demonstrated its earning power as a stand-alone, pure airline in
2007 with record operating income of $433 million. This was achieved despite
the fact fuel prices during the year reached levels never before seen. Looking
forward, its prudent management, disciplined approach to cost control and
ongoing fl eet renewal position the company well should high oil prices persist
or other economic pressures arise.
This is the fi nal annual report I will submit as Air Canada chairman, having
relinquished my board role at the end of 2007. At this time, I would like to
recognize the achievement of Montie Brewer and his management team
in delivering on the ambitious plan presented to investors during the public
offering process. Beyond this, I must also recognize the employees of Air Canada
for their hard work and dedication, not only over the year past but throughout
the years of my association with the company.
It has been a privilege and even more, the realization of a personal dream, to
have had the opportunity to work for and lead Air Canada. I wish my successor as
chairman, David Richardson, the very best. Investors should share my confi dence
that under his leadership, with the management depth and skilled workforce
possessed by the company, Air Canada is poised to sustain its successful
trajectory far into the future.
Robert Milton
Past Chairman of the Board
Air Canada