Air Canada 2011 Annual Report Download - page 24

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2011 Air Canada Annual Report
24
System passenger revenues increased 3.4% from the fourth quarter of 2010
System passenger revenues of $2,374 million in the fourth quarter of 2011 increased $78 million or 3.4% from 2010 fourth
quarter passenger revenues of $2,296 million. Fourth quarter 2010 passenger revenues included a favourable annual
adjustment of $40 million related to the airline’s transatlantic joint venture with United Airlines and Deutsche Lufthansa AG,
which was finalized in December 2010 but with effect as of January 1, 2010, and to other interline agreements. For
comparative purposes, the tables and the discussion below excludes the impact of the $40 million favourable adjustment
recorded in the fourth quarter of 2010, which related to activities attributable to the first three quarters of 2010.
System passenger revenues of $2,374 million in the fourth quarter of 2011 increased $118 million or 5.2% from the adjusted
fourth quarter passenger revenues of $2,256 million in 2010, due to traffic and yield growth. Premium cabin revenues
increased $23 million or 4.5% from the fourth quarter of 2010 due to a traffic increase of 8.2% as yield declined 2.2%.
The table below provides passenger revenue by geographic region for the fourth quarter of 2011 and the fourth quarter of
2010.
Passenger Revenue Fourth Quarter 2011
$ Million
Fourth Quarter 2010
$ Million $ Change % Change
Canada 981 950 31 3.2
U.S. transborder 500 448 52 11.6
Atlantic 400 404 (4) (1.0)
Pacific 279 261 18 6.9
Other 214 193 21 11.1
System 2,374 2,256 118 5.2
The table below provides year-over-year percentage changes in passenger revenues and operating statistics for the fourth
quarter of 2011 versus the fourth quarter of 2010.
Fourth Quarter 2011
Versus
Fourth Quarter 2010
Passenger
Revenue
% Change
Capacity
(ASMs)
% Change
Traffic
(RPMs)
% Change
Passenger
Load Factor
pp Change
Yield
% Change
RASM
% Change
Canada 3.2 2.1 2.1 – 0.4 0.4
U.S. transborder 11.6 3.2 5.3 1.4 5.4 7.4
Atlantic (1.0) 2.2 1.2 (0.8) (3.1) (4.0)
Pacific 6.9 1.4 1.6 0.1 4.7 4.9
Other 11.1 4.6 4.9 0.2 5.7 5.9
System 5.2 2.5 2.6 0.1 1.9 2.0
The table below provides year-over-year percentage changes in system passenger revenues and operating statistics for the
fourth quarter 2011 and each of the previous four quarters.
System Year-over-Year by Quarter (% Change)
Q4'10 Q1'11 Q2'11 Q3'11 Q4'11
Passenger Revenues 11.2 10.3 11.7 7.9 5.2
Capacity (ASMs) 7.8 7.7 6.4 2.6 2.5
Traffic (RPMs) 8.0 5.7 6.1 3.8 2.6
Passenger Load Factor
(pp Change) 0.2 (1.5) (0.2) 1.1 0.1
Yield 2.8 4.2 5.2 3.8 1.9
RASM 3.0 2.2 4.9 5.1 2.0