Air Canada 2011 Annual Report Download - page 78

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2011 Air Canada Annual Report
78
CONSOLIDATED STATEMENT OF OPERATIONS
For the year ended December 31 2011 2010
(Canadian dollars in millions except per share figures)
Operating revenues
Passenger Note 21 $10,208 $ 9,427
Cargo Note 21 481 466
Other 923 893
Total revenues 11,612 10,786
Operating expenses
Aircraft fuel 3,375 2,652
Wages, salaries and benefits 1,991 1,913
Airport and navigation fees 1,007 961
Capacity purchase agreements Note 22 1,003 971
Depreciation, amortization and impairment 728 801
Aircraft maintenance 681 654
Sales and distribution costs 612 581
Food, beverages and supplies 278 279
Communications and information technology 193 195
Aircraft rent 335 353
Other 1,230 1,194
Total operating expenses 11,433 10,554
Operating income before exceptional item 179 232
Provision adjustment for cargo investigations, net Note 19 – 46
Operating income 179 278
Non-operating income (expense)
Foreign exchange gain (loss) (54) 184
Interest income 36 19
Interest expense (320) (397)
Net financing expense relating to employee benefits Note 10 (16) (75)
Loss on financial instruments recorded at fair value Note 18 (63) (3)
Other (12) (31)
(429) (303)
Loss before income taxes (250) (25)
Recovery of income taxes Note 13 1 1
Net loss $(249) $ (24)
Net income (loss) attributable to:
Shareholders of Air Canada (255) (33)
Non-controlling interests 6 9
$(249) $ (24)
Net loss per share
Basic and diluted Note 16 $(0.92) $ (0.12)
The accompanying notes are an integral part of the consolidated financial statements.