Air Canada 2008 Annual Report Download - page 6
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2008 Air Canada Annual Report
6
positioned to manage through the current
difficulties and become a stronger company.
Safety will remain our central core value and this
unshakeable commitment will be coupled with
a renewed emphasis on customer service, good
relationships with our employees and building our
financial strength.
Our innovative revenue model has proved its
effectiveness in both nurturing customer loyalty
and driving a revenue premium. The expanding
family of pass and subscription products is securing
repeat customers. Our increasingly imitated a
la carte pricing model is generating additional
revenue. And we will continue to innovate and
introduce new products to secure customer
loyalty.
By mid-year we expect to have completed
our aircraft refurbishment program, giving us
one of the youngest, most fuel efficient fleets in
North America. Our fleet boasts industry-leading
onboard amenities, including lie-flat suites in
Executive First and digital seatback entertainment
systems at every seat, complemented by access to
a USB port and a household-type electrical plug
to power personal electronic devices. During 2009,
subject to regulatory approvals, we plan on being
the first Canadian carrier to introduce in-flight
wireless Internet access, allowing customers to
email, surf the net and work online while airborne.
This is expected to be a popular feature in an age
obsessed with connectivity and it is one more
element which will distinguish the Air Canada
brand.
We will continue to actively manage capacity
throughout the year based on a considered
assessment of what the market can support.
This will be a key factor in controlling costs and
ensuring our assets and resources are used most
effectively. Much of our cost performance will
hinge on the price of oil but we anticipate that the
benefits from the decline in fuel costs will more
than offset the decrease in revenue resulting from
reduced demand due to the economic downturn.
Finally, I want to thank the company’s employees
for their hard work, dedication and professionalism
during the difficult year just passed. While 2008
was clearly extremely demanding, everyone should
be encouraged by the knowledge the company has
a plan to navigate the ongoing uncertainty and
the resources and people necessary to execute this
plan in order that Air Canada can emerge a better,
stronger and profitable airline for the long term.
Montie Brewer
President and Chief Executive Officer