Air Canada 2011 Annual Report Download - page 29

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2011 Management’s Discussion and Analysis
29
The table below provides year-over-year percentage changes in system cargo 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
Cargo Revenues 13.0 12.0 3.8 (1.7) 1.2
Capacity (ETMs) 7.7 7.4 7.0 1.9 2.5
Revenue per ETM 3.9 3.3 (3.1) (3.5) (1.3)
Traffic (RTMs) 10.0 5.8 (2.4) (7.7) (0.4)
Yield per RTM 1.6 4.9 6.3 6.5 1.6
The table below provides year-over-year percentage changes in cargo revenues and operating statistics for the fourth quarter
of 2011 versus the fourth quarter of 2010.
Fourth Quarter 2011
Versus
Fourth Quarter 2010
Cargo Revenue
% Change
Capacity
(ETMs)
% Change
Rev / ETM
% Change
Traffic
(RTMs)
% Change
Yield / RTM
% Change
Canada (2.4) 3.5 (5.7) 1.6 (4.0)
U.S. transborder (2.5) 6.0 (8.0) (7.4) 5.4
Atlantic 5.1 2.0 3.1 (6.6) 12.6
Pacific (6.0) 1.8 (7.7) 2.7 (8.5)
Other 13.6 3.2 10.1 11.1 2.3
System 1.2 2.5 (1.3) (0.4) 1.6
Components of the year-over-year change in fourth quarter cargo revenues included:
The yield improvement which was mainly due to higher fuel surcharges year-over-year.
The traffic decline which was mainly due to the adverse impact of increased industry capacity on Atlantic services.
Following three quarters of year-over-year declines resulting from the earthquake in Japan and its aftermath, the Pacific
reflected a recovery in cargo traffic, where pricing actions were taken to stimulate demand.
Other revenues increased 2% from the fourth quarter of 2010
Other revenues of $200 million in the fourth quarter of 2011 increased $4 million or 2% from the fourth quarter of 2010. The
growth in other revenues was due to a $6 million increase in third party ground package revenues at Air Canada Vacations.
This increase in third party revenues at Air Canada Vacations was due to a higher selling price of ground packages and, to a
lesser extent, an increase in passenger volumes.