Air Canada 2010 Annual Report Download - page 102
Download and view the complete annual report
Please find page 102 of the 2010 Air Canada annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.2010 Air Canada Annual Report
102
During 2009:
t 5IF$PSQPSBUJPOUPPLEFMJWFSZPGPOF#PFJOHBJSDSBGU5IFBJSDSBGUXBTGJOBODFEXJUIHVBSBOUFFTVQQPSUGSPNUIF
Export-Import Bank of the United States (“EXIM”).
t 5IF$PSQPSBUJPOFOUFSFEJOUPBTBMFMFBTFCBDLUSBOTBDUJPOGPSB#PFJOHBJSDSBGUXIJDIXBTPSJHJOBMMZEFMJWFSFE
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 $26 has been deferred and will be recognized in Depreciation and amortization
over the term of the lease. The lease is accounted for as a capital lease with a 12 year term, with monthly lease
payments.
t 5IF$PSQPSBUJPOTPMEUXP"BJSDSBGUGPSQSPDFFETPGXJUIBCPPLWBMVFPGSFTVMUJOHJOBMPTTPOTBMFPG
The Corporation made a repayment of $82 for the associated debt.
t 5IF$PSQPSBUJPO FOUFSFE JOUP B TBMF MFBTFCBDL 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.