Air Canada 2010 Annual Report Download - page 45

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2010 Management’s Discussion and Analysis
45
10. QUARTERLY FINANCIAL DATA
The following table summarizes quarterly financial results and major operating statistics for Air Canada for the last eight
quarters.
(1) DAR refers to the combination of depreciation and amortization and aircraft rent expenses.
(2) In the first quarter of 2008, Air Canada recorded a provision for cargo investigations of $125 million. In the fourth quarter of 2010, Air Canada recorded a net reduction
of $46 million to this provision.
(3) System RASM excludes the impact of a $40 million favourable adjustment recorded in the fourth quarter of 2010.
(4) Includes fuel handling and is net of fuel hedging results.
(5) See section 20 “Non-GAAP Financial Measures” in this MD&A for additional information.
(Canadian dollars in millions,
except where indicated)
Q1
2009
Q2
2009
Q3
2009
Q4
2009
Q1
2010
Q2
2010
Q3
2010
Q4
2010
Operating revenues $ 2,391 $ 2,330 $ 2,670 $ 2,348 $ 2,519 $ 2,625 $ 3,026 $ 2,616
Aircraft fuel 593 572 682 601 619 660 733 640
Ownership (DAR) (1) 245 248 252 250 264 258 254 249
Other operating expenses 1,741 1,623 1,668 1,580 1,762 1,632 1,712 1,642
Operating expenses 2,579 2,443 2,602 2,431 2,645 2,550 2,699 2,531
Operating income before the
undernoted item (188) (113) 68 (83) (126) 75 327 85
Provision adjustment for cargo
investigations, net (2) - - - - - - - 46
Operating income (loss) (188) (113) 68 (83) (126) 75 327 131
Total non-operating income (expense),
non-controlling interest, foreign exchange
gain (loss) and income tax (212) 268 209 27 41 (278) (66) 3
Net income (loss) $ (400) $ 155 $ 277 $ (56) $ (85) $ (203) $ 261 $ 134
Revenue passenger miles (millions) 10,984 11,862 14,153 10,885 11,692 12,896 15,531 11,756
Available seat miles (millions) 13,821 14,735 16,946 13,841 14,727 15,523 18,328 14,918
Passenger load factor (%) 79.5 80.5 83.5 78.6 79.4 83.1 84.7 78.8
RASM (cents) (3) 14.5 13.9 14.1 14.6 14.2 14.8 14.8 15.1
CASM (cents) 18.7 16.6 15.4 17.6 18.0 16.4 14.7 17.0
CASM, excluding fuel expense (cents) 14.4 12.7 11.3 13.2 13.8 12.2 10.7 12.7
Fuel price per litres (cents) (4) 71.4 65.4 68.6 72.6 70.7 71.1 66.9 70.2
EBITDAR before the provision
for cargo investigations (2) (5) $ 57 $ 135 $ 320 $ 167 $ 138 $ 333 $ 581 $ 334
EBITDAR (5) $ 57 $ 135 $ 320 $ 167 $ 138 $ 333 $ 581 $ 380
Earning (loss) per share - Basic $ (4.00) $ 1.55 $ 2.77 $ (0.25) $ (0.31) $ (0.72) $ 0.94 $ 0.48
Earning (loss) per share - Diluted $ (4.00) $ 1.55 $ 2.44 $ (0.25) $ (0.31) $ (0.72) $ 0.91 $ 0.42