Air Canada 2010 Annual Report Download - page 102

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2010 Air Canada Annual Report
102
During 2009:
t 5IF$PSQPSBUJPOUPPLEFMJWFSZPGPOF#PFJOHBJSDSBGU5IFBJSDSBGUXBTGJOBODFEXJUIHVBSBOUFFTVQQPSUGSPNUIF
Export-Import Bank of the United States (“EXIM”).
t 5IF$PSQPSBUJPOFOUFSFEJOUPBTBMFMFBTFCBDLUSBOTBDUJPOGPSB#PFJOHBJSDSBGUXIJDIXBTPSJHJOBMMZEFMJWFSFE
in 2007 and debt financed. The proceeds from the transaction of $172 were used to repay the outstanding loan of
$114. The Corporation recorded a charge of $17 in interest expense for this transaction including a prepayment fee of
$14. The gain on sale of the aircraft of $26 has been deferred and will be recognized in Depreciation and amortization
over the term of the lease. The lease is accounted for as a capital lease with a 12 year term, with monthly lease
payments.
t 5IF$PSQPSBUJPOTPMEUXP"BJSDSBGUGPSQSPDFFETPGXJUIBCPPLWBMVFPGSFTVMUJOHJOBMPTTPOTBMFPG
The Corporation made a repayment of $82 for the associated debt.
t 5IF$PSQPSBUJPO FOUFSFE JOUP B TBMF MFBTFCBDL USBOTBDUJPO GPS UISFF #PFJOH  BJSDSBGU XIJDI XFSF PSJHJOBMMZ
delivered in 2007 and debt financed. The proceeds from the transaction of $380 were used to repay the outstanding
principal of $273. The Corporation recorded a charge of $8 in interest expense for this transaction and a loss on
sale of the aircraft of $24. The leases are accounted for as operating leases with a 12 year term, with monthly lease
payments.