Air Canada 2009 Annual Report Download - page 126

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2009 Air Canada Annual Report
126
The future minimum non-cancellable commitment for the next 12 months under the capacity purchase agreements with
Jazz is approximately $732 (2008 - $764) and with other regional carriers is $29 (2008 - $30). As described in Note 2D and
based upon amended terms as described in Note 1C, the Jazz CPA expires December 31, 2020. The rates under the Jazz CPA
are subject to change based upon, amongst other things, changes in Jazz’s costs and the results of a benchmarking exercise
with other regional carriers planned to be completed in 2010.
Maturity Analysis
Principal and interest repayment requirements as at December 31, 2009 on Long-term debt and capital lease obligations
are as follows:
Principal 2010 2011 2012 2013 2014 Thereafter Total
Long-term debt obligations $ 368 $ 655 $ 418 $ 495 $ 383 $ 1,360 $ 3,679
Capital lease obligations 100 101 110 119 94 380 904
$ 468 $ 756 $ 528 $ 614 $ 477 $ 1,740 $ 4,583
Interest 2010 2011 2012 2013 2014 Thereafter Total
Long-term debt obligations $ 213 $ 177 $ 144 $ 109 $ 75 $ 167 $ 885
Capital lease obligations 80 71 62 50 41 118 422
$ 293 $ 248 $ 206 $ 159 $ 116 $ 285 $ 1,307
Principal repayments in the table above exclude transaction costs of $61 which are offset against Long-term debt and
capital leases in the Consolidated Statement of Financial Position.
The following is a maturity analysis, based on contractual undiscounted cash fl ows, for selected fi nancial liabilities. The
analysis includes both the principal and interest component of the payment obligations on long-term debt and is based on
interest rates and the applicable foreign exchange rate effective as at December 31, 2009.
2010 2011 2012 2013 2014 Thereafter Total
Long-term debt obligations $ 581 $ 832 $ 562 $ 604 $ 458 $ 1,527 $ 4,564
Capital lease obligations 180 172 172 169 135 498 1,326
Accounts payable and
accrued liabilities 1,215 -
- - - -
1,215
Fuel derivatives 31 - - - - - 31
$ 2,007 $ 1,004 $ 734 $ 773 $ 593 $ 2,025 $ 7,136
Minimum Committed Purchase of Aeroplan Miles
The CPSA between the Corporation and Aeroplan outlines a requirement for the Corporation to purchase a minimum
number of Aeroplan Miles® from Aeroplan. The estimated minimum requirement for 2010 is $211. The annual commitment
is based on 85% of the average total Aeroplan Miles® actually issued in respect of Air Canada fl ights or Air Canada
airline affi liate products and services in the three preceding calendar years. During 2009, the Corporation purchased $249
from Aeroplan.
.