Air Canada 2008 Annual Report Download - page 50

Download and view the complete annual report

Please find page 50 of the 2008 Air Canada annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 152

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152

2008 Air Canada Annual Report
50
10. QUARTERLY FINANCIAL DATA
Prior to May 24, 2007, Air Canada had two reportable segments: Air Canada Services (which is now referred to as Air Canada)
and Jazz. Segment information provided useful information to shareholders as it enabled them to distinguish between the
results of operations, cash and other assets and liabilities of the two segments. Effective May 24, 2007, Air Canada no longer
consolidates the operations of Jazz. Forcomparativepurposes,thefollowingtablesummarizesquarterlynancial
results and major operating statistics for Air Canada, excluding the consolidation of Jazz operations, for the last
eight quarters.
($ millions, except per share figures)
Q1
2007
Q2
2007
Q3
2007
Q4
2007
Q1
2008
Q2
2008
Q3
2008
Q4
2008
Operating revenues $ 2,540 $ 2,639 $ 2,954 $ 2,513 $ 2,727 $ 2,782 $ 3,075 $ 2,498
Aircraft fuel (585) (636) (716) (615) (715) (848) (1,064) (792)
Ownership (DAR) (1) (207) (211) (210) (202) (234) (242) (243) (254)
Other operating expenses (1,826) (1,704) (1,677) (1,624) (1,790) (1,685) (1,656) (1,598)
Operating expenses (2,618) (2,551) (2,603) (2,441) (2,739) (2,775) (2,963) (2,644)
Operating income (loss)
beforetheunder-noteditem (78) 88 351 72 (12) 7 112 (146)
Provision for cargo investigations (2) - - - - (125) - - -
Operating income (loss) (78) 88 351 72 (137) 7 112 (146)
Total non-operating income (expense),
non-controlling interest, foreign exchange
gain (loss) and income tax
44 67 (78) (37) (151) 115 (244) (581)
Net income (loss) $ (34) $ 155 $ 273 $ 35 $ (288) $ 122 $ (132) $ (727)
Revenue passenger miles (millions) 11,814 12,580 14,789 11,446 12,331 12,884 14,458 10,845
Available seat miles (millions) 14,735 15,220 18,144 14,715 15,407 15,581 17,515 13,571
Passenger load factor (%) 80.2 82.7 81.5 77.8 80.0 82.7 82.5 79.9
RASM (cents) (3) 14.7 15.3 14.6 14.7 15.0 15.7 15.7 16.0
CASM, (cents) 17.7 16.8 14.3 16.6 17.8 17.8 16.9 19.5
CASM, excluding fuel expense (cents) (3) 13.8 12.6 10.4 12.4 13.1 12.4 10.8 13.6
Fuel price per litres (cents) (4) 62.9 67.2 64.7 67.5 75.2 89.2 101.0 95.8
EBITDARbeforetheprovision
for cargo investigations (5) $ 129 $ 299 $ 561 $ 274 $ 222 $ 249 $ 355 $ 108
EBITDAR (5) $ 129 $ 299 $ 561 $ 274 $ 97 $ 249 $ 355 $ 108
Earning (loss) per share
- Basic and diluted (6) $ (0.34) $ 1.55 $ 2.73 $ 0.35 $ (2.88) $ 1.22 $ (1.32) $ (7.27)
(1) DAR refers to the combination of Aircraft rent and Depreciation and amortization expenses.
(2) A provision for cargo investigations of $125 million was recorded in the first quarter of 2008.
(3) System RASM includes the impact of removing $26 million from the fourth quarter of 2007.
(4) Includes fuel handling and is net of fuel hedging results.
(5) See section 20 “Non-GAAP Financial Measures” in this MD&A for additional information.
(6) Earnings (loss) per share – basic and diluted are the consolidated Air Canada figures as reported under GAAP.