Air Canada 2011 Annual Report Download - page 46

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2011 Air Canada Annual Report
46
(Canadian dollars in millions,
except where indicated)
2010 2011
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Revenue passenger miles
(millions) 11,692 12,896 15,531 11,756 12,355 13,677 16,126 12,065
Available seat miles
(millions) 14,727 15,523 18,328 14,918 15,859 16,512 18,799 15,290
Passenger load factor (%) 79.4 83.1 84.7 78.8 77.9 82.8 85.8 78.9
RASM (cents)(1) 14.2 14.8 14.8 15.1 14.5 15.6 15.5 15.4
CASM (cents) 18.0 16.6 14.8 17.4 17.8 17.2 15.8 18.3
CASM, excluding fuel
expense (cents) 13.8 12.3 10.8 13.2 13.1 11.9 10.8 13.0
CASM, excluding fuel
expense and excluding
the cost of ground
packages at Air Canada
Vacations (cents)(2) 12.9 12.0 10.6 12.8 12.2 11.5 10.6 12.6
Economic fuel price per
litre (cents)(3) 66.2 66.8 64.6 67.5 78.2 87.9 85.8 88.6
EBITDAR before the
provision adjustment for
cargo investigations, net(4)(5) $ 150 $ 328 $ 580 $328 $207 $ 338 $ 535 $ 162
EBITDAR(4)(5) $ 150 $ 328 $ 580 $374 $207 $ 338 $ 535 $ 162
Net income (loss) per share
– Basic $ (0.41) $ (1.14) $ 1.13 $0.31 $(0.07) $ (0.17) $ (0.45) $ (0.22)
– Diluted $ (0.41) $ (1.14) $ 1.10 $0.27 $(0.07) $ (0.17) $ (0.45) $ (0.22)
(1) System RASM excludes the impact of a $40 million favourable adjustment recorded in the fourth quarter of 2010.
(2) Operating expense, excluding fuel expense and excluding the cost of ground packages at Air Canada Vacations, is a non-GAAP financial measure. Refer to section 20 of this
MD&A for additional information.
(3) Includes fuel handling and is net of fuel hedging results.
(4) 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.
(5) See section 20 “Non-GAAP Financial Measures” in this MD&A for a reconciliation of EBITDAR before a provision adjustment for cargo investigations to operating income
(loss) and EBITDAR to operating income (loss).