Air Canada 2008 Annual Report Download - page 8

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2008 Air Canada Annual Report
8
CAUTION REGARDING FORWARD-LOOKING INFORMATION
Air Canada’s public communications may include written or oral forward-looking statements within the meaning
of applicable securities laws. Such statements are included in this MD&A and may be included in other filings with
regulatory authorities and securities regulators. Forward-looking statements relate to analyses and other information
that are based on forecasts of future results and estimates of amounts not yet determinable. These statements may
involve, but are not limited to, comments relating to strategies, expectations, planned operations or future actions.
These forward-looking statements are identified by the use of terms and phrases such as “anticipate”, “believe”, “could”,
“estimate”, “expect”, “intend”, “may”, “plan”, “predict”, “project”, “will”, “would”, and similar terms and phrases, including
references to assumptions.
Forward-looking statements, by their nature, are based on assumptions, including those described below, and are subject
to important risks and uncertainties. Any forecasts or forward-looking predictions or statements cannot be relied upon
due to, amongst other things, changing external events and general uncertainties of the business. Actual results may
differ materially from results indicated in forward-looking statements due to a number of factors, including without
limitation, industry, market, credit and economic conditions, the ability to reduce operating costs and secure financing,
pension issues, energy prices, currency exchange and interest rates, employee and labour relations, competition, war,
terrorist acts, epidemic diseases, insurance issues and costs, changes in demand due to the seasonal nature of the business,
supply issues, changes in laws, regulatory developments or proceedings, pending and future litigation and actions by
third parties as well as the factors identified throughout this MD&A and, in particular, those identified in section 18
“Risk Factors” of this MD&A. The forward-looking statements contained in this MD&A represent the Corporation’s
expectations as of the date of this MD&A and are subject to change after such date. However, the Corporation disclaims
any intention or obligation to update or revise any forward-looking statements whether as a result of new information,
future events or otherwise, except as required under applicable securities regulations.
Assumptions were made by Air Canada in preparing and making forward-looking statements. Air Canada assumes
that the North American economy will continue to contract in the first quarter of 2009 and will remain weak for the
remainder of 2009. Air Canada also assumes that Canadian real GDP will be approximately negative 1% and US real
GDP will be approximately negative 2%. In addition, Air Canada expects that the Canadian dollar will trade, on average,
at Cdn $1.18 per US dollar in the first quarter of 2009 and Cdn $1.16 per US dollar for the full year 2009 and that the
price of fuel will average 68 cents per litre in the first quarter of 2009 and will average 69 cents per litre for the full year
2009 (both net of fuel hedging positions).