Air Canada 2008 Annual Report Download - page 87

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Consolidated Financial Statements and Notes
87
CONSOLIDATED STATEMENT OF OPERATIONS
FortheyearendedDecember31
(Canadian dollars in millions except per share figures) 2008 2007*
Operating revenues
Passenger $ 9,713 $ 9,329
Cargo 515 550
Other 854 720
11,082 10,599
Operating expenses
Aircraft fuel 3,419 2,553
Wages, salaries and benefits 1,877 2,059
Airport and navigation fees 1,001 1,021
Capacity purchase with Jazz Note 2d 948 537
Depreciation and amortization Notes 3, 4 & 13 694 557
Aircraft maintenance 659 799
Food, beverages and supplies 314 319
Communications and information technology 286 277
Aircraft rent 279 323
Commissions 194 201
Other 1,450 1,458
11,121 10,104
Operatingincome(loss)beforeunder-noteditem (39) 495
Provision for cargo investigations Note 17 (125) -
Operating income (loss) (164) 495
Non-operating income (expense)
Interest income 57 94
Interest expense (319) (351)
Interest capitalized 37 108
Gain (loss) on capital assets Note 3 (34) 19
Gain on financial instruments recorded at fair value Note 15 92 26
Other (3) (18)
(170) (122)
Income(loss)beforethefollowingitems (334) 373
Non-controlling interest (12) (71)
Foreign exchange gain (loss) (655) 317
Provision for income taxes
Current Note 7 (1) (16)
Future Note 7 (23) (174)
Income (loss) for the year $ (1,025) $ 429
Income (loss) per share
Basic Note 12 $ (10.25) $ 4.29
Diluted Note 12 $ (10.25) $ 4.27
* Effective May 24, 2007, the results and financial position of Jazz are not consolidated within Air Canada (Note 1).
The accompanying notes are an integral part of the consolidated financial statements