Air Canada 2006 Annual Report Download - page 3

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Page
MESSAGE FROM THE PRESIDENT AND CHIEF EXECUTIVE OFFICER,
AIR CANADA ............................................................................................................................. 4
MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS .................................................. 6
PREFACE ....................................................................................................................................... 6
GLOSSARY ..................................................................................................................................... 7
OVERVIEW AND GENERAL BUSINESS SUMMARY .................................................................. 8
FUEL RISK MANAGEMENT ........................................................................................................... 11
EMPLOYEES AND LABOUR RELATIONS .................................................................................... 12
FLEET .............................................................................................................................................. 14
RESULTS OF OPERATIONS - FOURTH QUARTER 2006 VERSUS
FOURTH QUARTER 2005 .............................................................................................................. 15
RESULTS OF OPERATIONS - 2006 VERSUS 2005 .................................................................... 21
FINANCIAL AND CAPITAL MANAGEMENT .................................................................................. 29
QUARTERLY FINANCIAL DATA ..................................................................................................... 41
SELECTED ANNUAL INFORMATION ........................................................................................... 43
OFF-BALANCE SHEET ARRANGEMENTS .................................................................................. 44
RELATED PARTY TRANSACTIONS ............................................................................................. 46
CRITICAL ACCOUNTING ESTIMATES ......................................................................................... 49
FUTURE ACCOUNTING STANDARDS CHANGES ..................................................................... 53
SENSITIVITY OF RESULTS ........................................................................................................... 54
RISK FACTORS .............................................................................................................................. 55
CONTROLS AND PROCEDURES ................................................................................................. 65
OUTLOOK ....................................................................................................................................... 66
NON-GAAP FINANCIAL MEASURES ............................................................................................ 67
CONSOLIDATED FINANCIAL STATEMENTS AND NOTES .......................................................... 72
OFFICERS AND DIRECTORS .......................................................................................................... 126
INVESTOR AND SHAREHOLDER INFORMATION ........................................................................ 127
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