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10. QUARTERLY FINANCIAL DATA
The table below describes quarterly financial results and major operating statistics for the Corporation and its
two reportable segments since the first quarter of 2005. The amounts in the tables below include inter-segment
revenues and expenses.
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Consolidated total 2005 2005 2005 2005 2006 2006 2006 2006
Operating revenues $2,097 $2,363 $2,742 $2,256 $2,376 $2,559 $2,837
$2,395
Special charge for Aeroplan miles
(1) - - - - - - (102)
-
Operating revenues $2,097 $2,363 $2,742 $2,256 $2,376 $2,559 $2,735
$2,395
Operating expenses
(2) (2,150) (2,244) (2,433) (2,313) (2,464) (2,410) (2,566) (2,366)
Operating income (loss) (53) 119 309 (57) (88) 149 169 29
Total non-operating income (expense),
non-controlling interest, foreign
exchange gain (loss) and income tax (63) (129) (68) (78) (38) 3 (125) (173)
Net income (loss) ($116) ($10) $241 ($135) ($126) $152 $44 ($144)
Earning (loss) per share
- Basic $ (1.85) $ (0.12) $ 2.73 $ (1.53) $ (1.43) $ 1.72 $ 0.50 $ (1.55)
- Diluted $ (1.85) $ (0.12) $ 2.73 $ (1.53) $ (1.43) $ 1.72 $ 0.50 $ (1.55)
Revenue passenger miles (millions) 10,586 11,613 13,981 10,584 11,240 12,248 14,346
11,160
Available seat miles (millions) 13,566 14,487 16,961 13,808 14,287 14,926 17,529
14,343
Passenger load factor (%) 78.0 80.2 82.4 76.7 78.7 82.1 81.8
77.8
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Air Canada Services 2005 2005 2005 2005 2006 2006 2006 2006
Operating revenues $2,108 $2,373 $2,757 $2,271 $2,394 $2,576 $2,854
$2,415
Special charge for Aeroplan miles
(1) - - - - - - (102)
-
Operating revenues $2,108 $2,373 $2,757 $2,271 $2,394 $2,576 $2,752
$2,415
Operating expenses
(2) (2,190) (2,281) (2,485) (2,362) (2,518) (2,463) (2,622) (2,420)
Operating income (loss) (82) 92 272 (91) (124) 113 130 (5)
Total non-operating income (expense),
non-controlling interest, foreign
exchange gain (loss) and income tax (34) (101) (32) (44) (2) 39 (86) (139)
Net income (loss) ($116) ($9) $240 ($135) ($126) $152 $44 ($144)
Revenue passenger miles (millions) 10,586 11,612 13,980 10,584 11,240 12,248 14,345
11,160
Available seat miles (millions) 13,565 14,486 16,960 13,807 14,287 14,925 17,528
14,343
Passenger load factor (%) 78.0 80.2 82.4 76.7 78.7 82.1 81.8
77.8
Operating expense per available seat mile
(CASM) (cents) 16.2 15.8 14.7 17.1 17.6 16.5 15.0
16.9
CASM, excluding fuel expense (cents)
(3) 13.1 12.1 10.7 12.9 13.7 12.3 10.6
12.8
13.1 12.1 10.7 12.9 13.5 12.3 10.6
12.9
CASM, excluding fuel expense and
the special charge for labour restructuring
(cents)
(3)
(1) Quarter 3 2006 includes a special charge of $102 million in connection with Air Canada's obligation for the
redemption of pre-2002 Aeroplan miles.
(2) Quarter 1 2006 includes a special charge for labour restructuring of $28 million. In Quarter 4, 2006, this charge
was reduced by $8 million to $20 million.
(3) See section 20 "Non-GAAP Financial Measures" in this MD&A for additional information.
41
Management's Discussion and Analysis of Results and Financial Condition