wizard

Donating Member
  • Content Count

    1,147
  • Joined

  • Last visited

  • Days Won

    3

Everything posted by wizard

  1. That makes no sense. You did not answer the question as you did not provide much insight and who cares what Bean said. Westjet is just arrogant and the one that sets the fares would be the one that has the most frequency on the route. Last time I checked it was Air Canada and the Star Alliance that holds the most seats in the sandbox you play in. So you better think again on who sets the fares.
  2. Well CanadaEH is a very funny dude saying WestJet sets the market price. Please fully explain how you can determine who sets the price and who matched the price. Please get over yourselves already for thinking Westjet sets the price in the market like they are the trend makers.
  3. WestJet had a very good operation running out of YHM until they moved everything to YYZ. Seems to me that you can make some cash in YHM .
  4. I think AC was wise to move some service into YHM to YUL will help feed the YUL hub and would think YOW service will be just be around the corner as they move to protect the triangle as we see a battle heating up for the east and the Atlantic over to London.
  5. What is the reason to fly YHM YUL for AC? Do they see this as another way to fight the Porter monopoly at YTZ and also see extra capacity being added from Westjets announcement yesterday?
  6. Westjet used Hamilton as a hub when they fist started and wonder why they would not deploy this as a mini hub again to off set the Pull back in the west?
  7. WestJet is nothin more then smoke and mirrors. Low fare airline is a joke. Westjet still think they are low fare but the pubic just jump back and forth and book online with the lowest fare they can find and they have no loyity to which company they use.
  8. It was diverted due to a maintenance issue as per WestJet on Twitter, Aircraft is still sitting on gate 7 YXU.
  9. WestJet flight 1054 YUL to FLL diverted to YXU ? Not sure why if it was onbourd medical or Maintenance ?
  10. I know they can't charge a fee but it seems out of control. I just heard last night there was 96 wheelchairs for the Air Canada YYZ DEL flight. Who handles the wheelchairs in YYZ for Air Canada.? The new DEL service will be delayed for every departure if this keeps up as they should rethink doing this service. If they could charge a wheelchair service fee just think of the extra revenue on this flight at say $25 per chair that is an extra $2500 on the departure alone 🤓
  11. Just thinking if they are making old new then the route to bring back is an old Tango route which was about 13 years ago. YHZ to YXU to YYC to YVR advertised in YXU as cost to cost service direct from London Inernational Airport. This was a very popular route which utilized the old B737-200 aircraft in the Tango fleet. This would be a nice Addition to Rouge routes.
  12. Well The dream season has come to an end, but the blue Jays did the city of Toronto and the country of Canada proud. Good job Blue Jays and I hope they can make another run next year. That will be hard because everything needs to fall in place even when you have a great team on paper these seasons are far and few. Thanks again to the Toronto Blue Jays for a remarkable season.
  13. I think the airport was cought off by this announcement because of who was avilable to the press as J.Carr is director of finance and HR. I think WestJet jumped the gun do to this leaking early. The Airport did not have the PR staff avilable for the media to make this a huge event like they like to do at the yxu airport if in involves a WestJet release of any sort as yxu airport authority loves WestJet. Lol
  14. Yes thanks it has been a long time since I have posted.
  15. Sorry did not post a link but I hear Enoore is starting new service from Yxu to Yyz in Mar 2016. 0630 and 1505 dep to yyz Will this hurt the direct flights they do to Yyc from yxu ? And will Air Canada react to this and add any direct service to Yyc or Yvr as Jazz provides about 12 flights a day to feed Air Canada. Air Canada has already up gaged about 4 Dash 8 -100 to Q400 for the winter schedule.
  16. CALGARY - A unionization drive aimed at disgruntled flight attendants is taking place at WestJet, the Calgary-based airline that has been proudly non-union since its inception in 1996. The Canadian Union of Public Employees (CUPE) has dedicated a full-time organizer to the campaign and has already held three formal meetings with flight attendants in Calgary. It said it plans to hold additional meetings with WestJet flight attendants in Toronto and Vancouver in the near future. Ricardo Miranda, national representative and member organizer for CUPE, said the union was approached during the spring by a handful of flight attendants who believe WestJet needs a union. While this isn’t the first time a large national union has set its sights on the airline (CUPE itself tried, and failed, to unionize WestJet flight attendants in 2006), Miranda said he believes there is some momentum this time around. “We’re very happy with the way things are going,” he said. “In previous attempts, we have never gotten as far as we are right now ... None of them have come as far as this one, and none of them have been as employee-driven as the one we have right now.” While it’s clear WestJet employees feel a strong sense of pride in the company, Miranda said, there’s also a sense among flight attendants that their voices aren’t being heard. “They want to have a say, basically,” he said. “The flight attendants feel that their concerns need to be heard in a way that is meaningful.” WestJet’s vice-president of Inflight, Tyson Matheson, said he believes the proportion of flight attendants who have been speaking with CUPE is very small. Still, the company takes the unionization drive very seriously. “We don’t take any of these situations lightly,” Matheson said, adding he believes that if employees are frustrated, it’s because there are a lot of changes taking place at WestJet right now. The airline recently launched its new regional carrier, Encore, and it is also preparing to become a “multi-base” operation. Currently, all WestJet flight attendants are headquartered in Calgary, but in 2014 the carrier will designate Vancouver and Toronto as additional crew bases — raising questions among flight attendants about how they will be affected by the move. “There’s a lot of questions and uncertainty among some of the flight attendants,” Matheson acknowledged. “It’s a matter of making sure we’re being clear with our flight attendants, that we’re visible, and that we’re available to answer any questions.” While WestJet is non-unionized, its workers do have an employee organization called PACT, (Pro-Active Communications Team). PACT chair Antonio Faiola said the organization does many of the things a union would do (including having its own version of a grievance procedure), but without the red tape. “From an employee perspective, there’s an advantage to having our own association,” Faiola said. “We feel that if there are concerns or there are things we need to handle, we’re not reliant on an external party. We can just go directly to where we need to go to solve the issues — and that’s to the senior level of the organization.” Robert Kokonis, an independent aviation analyst with AirTrav Inc., said it’s not surprising that WestJet is encountering unionization attempts as it grows. “When you’re a small carrier with 20 or 30 planes, it’s easier to keep a tighter hold on that special bond with employees and be directly engaged with them. As you grow larger, it is more challenging,” Kokonis said. Still, he questions whether WestJet employees — most of whom own stock in the airline because of its employee share purchase program — really want to go down the unionization road. “The competitive landscape these days in Canada remains very intense, and (WestJet’s) competitors — Air Canada and Air Transat in particular — have not been standing still ... They’ve been cutting their costs,” Kokonis said. “So is this the right time (for WestJet) to be looking at essentially bumping up their costs? I’m not sure it’s the right time.” CUPE needs 50 per cent of WestJet’s approximately 2,800 flight attendants to sign membership cards to automatically certify a union, or 35 per cent to trigger a staff-wide vote. CUPE represents more than 10,000 flight attendants employed by Air Canada, Air Transat, Calm Air, Canadian North, Canjet, Cathay Pacific, First Air and Sunwing. astephenson@calgaryherald.com © Copyright © The Calgary Herald Buy this article at www.HeraldContentMarketplace.com
  17. Air Canada posts first yearly profit in 5 years BY SCOTT DEVEAU, FINANCIAL POST FEBRUARY 7, 2013 STORYPHOTOS ( 1 ) Air Canada reported an adjusted net loss of $6-million, or 2¢ a share, for the fourth quarter Thursday, an improvement over the $60-million, or 60¢ a share, it lost a year ago for the same period. Photograph by: Tyler Anderson , National Post filesAir Canada said Thursday it had returned to the black in 2012 by recording its first annual profit in five years last year. The news comes as the country’s largest carrier embarks on a dramatic reconfiguration of its widebody fleet that will see 109 more seats added on five new high-density Boeing 777s it will take delivery of over the next 12 months. Air Canada reported an adjusted net loss of $6-million, or 2¢ a share, for the fourth quarter Thursday, an improvement over the $60-million, or 60¢ a share, it lost a year ago for the same period. That beat analysts’ expectations for the quarter of a loss of 23¢ a share, according to Bloomberg estimates. The carrier also noted it had turned in a profit for 2012 as a whole, reporting an adjusted net income of $53-million, or 19¢ a share for the year, up from a loss of $122-million last year – its first yearly profit since 2007. “These results reflect the success of Air Canada’s ongoing transformation aligned with strict cost control and disciplined capacity management,” said Calin Rovinescu, Air Canada chief executive, in a statement. “In particular, the strong revenue performance of our international network was led by significant improvements, not only in the Pacific region but also on the Atlantic where we overcame challenges faced by the industry earlier in the year. Our focus remains firmly fixed on further cost reduction and increased revenue generation, including improved yields, positioning us well for the future,” he added. Part of that future will include a reconfiguration of its widebody fleet, including the addition of five new Boeing 777-300ER aircraft, including the two it previously announced that will be delivered in June and August of this year. The other three 777s are expected to join the fleet in November and December 2013, and the final one will be delivered in February 2014. The planes will include a new premium economy cabin, which was first reported by the Financial Post in November and will offer seven more inches of legroom than regular economy seats but cost less than business class. Customers will also be offered premium meals with complimentary bar service and priority check-in and baggage delivery at the airport, the airline said. The new 777-300ERs will also come in a high-density, 458-seat configuration, including 398 economy seats, 24 premium economy, and 36 lie-flat executive class seats, the airline said. Air Canada’s current fleet of a 777-300ER come in a 349-seat configuration, including 307 economy seats and 42 executive class seats, meaning the new planes will have 109 more seats. The new configuration brings Air Canada’s fleet of 777s closer to the seating capacity of its competitors, including Air France, which has up to 472 seats on its 777-300ERs, Emirates, which has up to 427 seats, KLM, which has up to 425 seats. But the carrier noted the economy seats will only lose one-inch of legroom from the existing fleet at 31-inches due to their “slimline” leather seats. The new cabin configuration will be available starting July 11 on flights between Montreal and Paris, and will be rolled out on other routes as the planes are delivered, the airline said. “With the introduction of Premium Economy, Air Canada will begin offering customers a new, high-value option for enhanced comfort and service on international flights,” said Ben Smith, Air Canada chief commercial officer, in a statement. “The delivery of five new Boeing 777-300ER aircraft over the next 12 months provides us with the right opportunity to launch a new cabin of service that will be offered on more of our international flights over time as we take delivery of new 787 aircraft [in 2014].” Air Canada said it expects its full year capacity to only increase by 1.5% to 3% in 2013. The carrier also intends to launch its new low-cost carrier, rouge, in July, and released its anticipated schedule for transferring planes from the mainline to the LCC Thursday. Management said it expected rouge to have a fleet of eight Airbus A319s and two Boeing 767s by the end of 2013. The LCC fleet is expected to grow to 25 A319s and seven 767s by thee end of 2014, for a total fleet of 22 aircraft by the end of next year. By the end of 2015, it said it expects rouge to have a fleet of 42 aircraft, including 30 A319s and 12 Boeing 767s. Facebook © Copyright © National Post
  18. Air Canada Reports Full Year and Fourth Quarter 2012 ResultsNet income of $131 million in 2012 on a GAAP basis; Adjusted net income of $53 million in 2012 Fourth Quarter EBITDAR of $284 million, an increase of $122 millionAnnual EBITDAR of $1.451 billion, including the impact of benefit plan amendmentsCash and short-term investments of $2.026 billion at December 31, 2012MONTREAL, Feb. 7, 2013 /CNW Telbec/ - Air Canada today reported full year and fourth quarter earnings before interest, taxes, depreciation, amortization and impairment, and aircraft rent ("EBITDAR") of $1.451 billion (or $1.327 billion before the impact of benefit plan amendments) compared to EBITDAR of $1.242 billion in 2011. Including the favourable impact of benefit plan amendments, EBITDAR of $1.451 billion increased $209 million year-over-year (or $85 million before the impact of benefit plan amendments). On a GAAP basis, in 2012, net income was $131 million or $0.45 per diluted share compared to a net loss of $249 million or $0.92 per diluted share in 2011. On an adjusted basis, net income was $53 million or $0.19 per diluted share compared to a net loss of $122 million or $0.44 per diluted share in 2011. For the fourth quarter of 2012, Air Canada reported EBITDAR of $284 million compared to EBITDAR of $162 million in the fourth quarter of 2011, an improvement of $122 million. On a GAAP basis, in the fourth quarter of 2012, Air Canada reported net income of $8 million or $0.03 per diluted share compared to a net loss of $60 million or $0.22 per diluted share in the fourth quarter of 2011. Air Canada reported an adjusted net loss of $6 million or $0.02 per diluted share compared to an adjusted net loss of $167 million or $0.60 per diluted share in the same quarter in 2011. "I am extremely pleased to report a strong fourth quarter and a full year net profit for Air Canada of $131 million in 2012," said Calin Rovinescu, President and Chief Executive Officer. "These results reflect the success of Air Canada's ongoing transformation aligned with strict cost control and disciplined capacity management. In particular, the strong revenue performance of our international network was led by significant improvements, not only in the Pacific region but also on the Atlantic where we overcame challenges faced by the industry earlier in the year. Our focus remains firmly fixed on further cost reduction and increased revenue generation, including improved yields, positioning us well for the future. "Air Canada marked its 75th anniversary in 2012 by proving it is dynamic and adaptable to an ever-changing industry. In pursuing our global strategy we will continue to build our international network with expanding services to Asia and new routes and destinations such as Istanbul, Venice and Edinburgh. Our commitment to this priority is underscored by our ongoing fleet modernization with the addition of five new Boeing 777s. The further enhancement of our range of international product and service offerings, including the introduction of a Premium Economy product and launch of our leisure carrier Air Canada rougeTM, gives us the tools to more effectively compete in a wider range of international markets. I thank our 27,000 employees for taking care of our customers as recognized by our many awards and accolades throughout the year, culminating in Air Canada recently receiving a Four-Star rating in the Skytrax Airline Star Ranking, the only international network carrier in North America to earn this distinction." Full Year Income Statement Highlights In 2012, system passenger revenues were $10.737 billion, an increase of $529 million or 5.2 per cent, on a 2.6 per cent growth in traffic and a 1.8 per cent improvement in yield. Passenger revenue per available seat mile (RASM) increased 3.2 per cent from 2011 due to the yield growth and a 1.1 percentage point improvement in passenger load factor. Adjusted CASM increased 1.0 per cent from 2011, in line with the 0.75 per cent to 1.25 per cent full year increase projected in Air Canada's news release dated November 8, 2012. In 2012, operating expenses increased $250 million from 2011, reflecting increases in fuel expense, wages, salaries and benefits expense, capacity purchase costs and other expenses. Partly offsetting these increases was an operating expense reduction of $124 million related to changes to the terms of the ACPA collective agreement pertaining to retirement age and a decrease in depreciation, amortization and impairment expense. In 2012, operating income of $437 million increased $258 million from 2011. Fourth Quarter Income Statement Highlights In the fourth quarter of 2012, system passenger revenues increased $139 million or 5.8 per cent, on a 4.2 per cent growth in traffic and a 1.2 per cent improvement in yield. RASM increased 4.2 per cent from the fourth quarter of 2011 due to a 2.3 percentage point improvement in passenger load factor and to the yield growth. In the fourth quarter of 2012, operating expenses decreased $2 million from the fourth quarter of 2011, mainly due to lower aircraft maintenance expense and a decrease in ownership costs (comprised of depreciation, amortization and impairment and aircraft rent). Offsetting these decreases were increases in wages, salaries and benefits expense, fuel expense, capacity purchase costs, food, beverage and supplies expense and other expenses. Adjusted CASM decreased 2.0 per cent from the fourth quarter of 2011, in line with the 2.0 per cent to 3.0 per cent fourth quarter decrease projected in Air Canada's news release dated November 8, 2012. In the fourth quarter of 2012, operating income of $46 million improved $144 million from the fourth quarter of 2011. Liquidity Highlights At December 31, 2012, cash and short-term investments amounted to $2,026 million, or 17 per cent of 2012 annual operating revenues. At December 31, 2012, adjusted net debt of $4,281 million decreased $295 million from December 31, 2011, reflecting net debt repayments made during 2012. Appointment to the Board of Directors The Corporation also announced the appointment of Thomas Birks to the Air Canada Board of Directors. The appointment is effective immediately. Currently, he is the President of Birinco Inc., a merchant bank with investment portfolios ranging from private equity to passive investments. He previously served as President of Henry Birks and Sons Ltd. and as Chair of the board of directors of Viterra Inc. Mr. Birks has extensive global experience having worked in various countries including Australia, Japan and South Africa. In addition, Mr. Birks has served as Chair and board member of numerous corporations, education institutions, hospitals and foundations. Current Outlook In the first quarter of 2013, Air Canada expects its system ASM capacity, as measured by available seat miles (ASMs), to decrease in the range of 0 to 1.5 per cent when compared to the first quarter of 2012. The comparative decrease in capacity in the first quarter of 2013 versus the first quarter of 2012 is due, in large part, to the first quarter of 2012 having had an additional leap year day. Air Canada continues to expect full year 2013 system capacity to increase in the range of 1.5 to 3.0 per cent when compared to the full year 2012. Air Canada expects its full year 2013 domestic capacity to increase in the range of 0 to 1.5 per cent from the full year 2012. As described in Air Canada's 2012 consolidated financial statements, Air Canada will be required to adopt certain revised and new accounting standards beginning on January 1, 2013, with retroactive restatement of 2012 comparative figures. These revised standards include changes to the accounting for pensions and other employee benefits and changes to the accounting for consolidation. Air Canada continues to evaluate the impact of these standards on its consolidated financial statements however, for the purposes of providing adjusted CASM guidance for 2013, Air Canada has assumed that these standards will result in the following restatements to 2012 operating expenses: Canadian dollars in millions Full Year 2012 Decrease to employee benefits expense (2) Decrease to depreciation, amortization and impairment (9) Net operating expense decrease due to impact of 2012 restatements (11)The adjusted CASM guidance for the first quarter and full year 2013 are compared to the first quarter and full year 2012, respectively, assuming the adjustments to operating expense noted above. For the first quarter of 2013, Air Canada expects adjusted CASM to increase by 3 to 4 per cent when compared to the first quarter of 2012. For the full year 2013, Air Canada expects adjusted CASM to decrease in the range of 0 to 1.0 per cent from the full year 2012. Air Canada's above-mentioned outlook assumes Canadian GDP growth of 1.5 to 2.0 per cent for 2013. In addition, Air Canada expects that the Canadian dollar will trade, on average, at C$1.00 per U.S. dollar in the first quarter and the full year 2013 and that the price of jet fuel will average 88 cents per litre in the first quarter of 2013 and 89 cents per litre for the full year 2013. The following table summarizes Air Canada's above-mentioned outlook for the first quarter of 2013 and for the full year 2013 and related major assumptions: First Quarter 2013 versus First Quarter 2012 Full Year 2013 versus Full Year 2012 Current Outlook Available seat miles (System) Decrease 0% to 1.5% Increase 1.5% to 3.0% Available seat miles (Canada) n/a Increase 0% to 1.5% Adjusted CASM (1) Increase 3% to 4% Decrease 0% to 1.0% Major Assumptions - First Quarter 2013 Major Assumptions - Full Year 2013 Major Assumptions Canadian dollar per U.S. dollar 1.00 1.00 Jet fuel price - CAD cents per litre (net of fuel hedging) 88 cents 89 cents Canadian economy 2013 annualized Canadian GDP growth of 1.5% to 2.0% Canadian GDP growth of 1.5% to 2.0%For the full year 2013, Air Canada also projects the following: Depreciation, amortization and impairment expense to decrease by approximately $130 million from the full year 2012. Employee benefits expense to increase by approximately $70 million from the full year 2012. Refer to section 14 of Air Canada's 2012 MD&A for important disclosures on changes to accounting for employee benefits effective January 1, 2013. Aircraft maintenance expense to increase by up to 5 per cent from the full year 2012, which includes the impact of the favourable maintenance return provision adjustment of $32 million recorded in the fourth quarter of 2012.The following table summarizes the above-mentioned projections for the full year 2013: Full Year 2013 versus Full Year 2012 Depreciation, amortization and impairment expense Decrease by approximately $130 million Employee benefits expense Increase by approximately $70 million Aircraft maintenance expense Increase up to 5%The outlook provided constitutes forward-looking statements within the meaning of applicable securities laws and is based on a number of additional assumptions and subject to a number of risks. Please see section below entitled "Caution Regarding Forward-Looking Information." (1) Non-GAAP Measures Below is a description of certain non-GAAP measures used by Air Canada to provide additional information on its financial and operating performance. Such measures are not recognized measures for financial statement presentation under Canadian GAAP and do not have standardized meanings and may not be comparable to similar measures presented by other public companies. Readers should refer to Air Canada's 2012 MD&A for a reconciliation of non-GAAP financial measures. Adjusted net income (loss) and adjusted net income (loss) per diluted share are used by Air Canada to assess share performance without the effects of foreign exchange, net financing income (expense) on employee benefits, mark-to-market adjustments on derivatives and other financial instruments recorded at fair value and unusual items. EBITDAR is commonly used in the airline industry and is used by Air Canada to assess earnings before interest, taxes, depreciation, amortization and impairment, and aircraft rent, as these costs can vary significantly among airlines due to differences in the way airlines finance their aircraft and other assets. Adjusted CASM is used by Air Canada to assess the operating performance of its ongoing airline business without the effects of fuel expense, the cost of ground packages at Air Canada Vacations and unusual items as such expenses may distort the analysis of certain business trends and render comparative analyses to other airlines less meaningful. Free cash flow is used by Air Canada as an indicator of the financial strength and performance of its business because it shows how much cash is available for such purposes as repaying debt, meeting ongoing financial obligations and reinvesting in Air Canada. Adjusted net debt is a key component of the capital managed by Air Canada and provides a measure of the airline's net indebtedness.Air Canada's 2012 Audited Consolidated Financial Statements and Notes and its 2012 Management's Discussion and Analysis (MD&A) are available on Air Canada's website at aircanada.com, and will be filed on SEDAR at www.sedar.com. For further information on Air Canada's public disclosure file, including Air Canada's Annual Information Form dated March 29, 2012, consult SEDAR at www.sedar.com. Analyst Conference Call Advisory Air Canada will host its quarterly analysts' call today, February 7, 2013 at 09:00 ET. Calin Rovinescu, President and Chief Executive Officer, Michael Rousseau, Executive Vice President and Chief Financial Officer, Ben Smith, Executive Vice President and Chief Commercial Officer, and Pierre Houle, Treasurer, will review Air Canada's fourth quarter 2012 financial results and will be available to answer questions from analysts and high yield bond holders. Dial (416) 695-9706 or 1-866-225-0198 or listen (only) through our live audio web cast at http://bellwebcasting.ca/audience/index.asp?eventid=92604791 CAUTION REGARDING FORWARD-LOOKING INFORMATION This press release includes forward-looking statements within the meaning of applicable securities laws. Forward-looking statements relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These statements may involve, but are not limited to, comments relating to preliminary results, guidance, strategies, expectations, planned operations or future actions. Forward-looking statements are identified by the use of terms and phrases such as "preliminary", "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", "will", "would", and similar terms and phrases, including references to assumptions. Forward-looking statements, by their nature, are based on assumptions, including those described herein and are subject to important risks and uncertainties. Forward-looking statements cannot be relied upon due to, amongst other things, changing external events and general uncertainties of the business. Actual results may differ materially from results indicated in forward-looking statements due to a number of factors, including without limitation, industry, market, credit and economic conditions, the ability to reduce operating costs and secure financing, pension issues, energy prices, employee and labour relations, currency exchange and interest rates, competition, war, terrorist acts, epidemic diseases, environmental factors (including weather systems and other natural phenomena and factors arising from man-made sources), insurance issues and costs, changes in demand due to the seasonal nature of the business, supply issues, changes in laws, regulatory developments or proceedings, pending and future litigation and actions by third parties as well as the factors identified throughout this news release and those identified in section 18 "Risk Factors" of Air Canada's 2012 MD&A dated February 7, 2013. The forward-looking statements contained in this news release represent Air Canada's expectations as of the date of this news release (or as of the date they are otherwise stated to be made), and are subject to change after such date. However, Air Canada disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations. HIGHLIGHTS The financial and operating highlights for Air Canada for the periods indicated are as follows. Fourth Quarter Full Year (Canadian dollars in millions, except where indicated) 2012 2011 Change $ 2012 2011 Change $ Financial Performance Metrics Operating revenues 2,841 2,699 142 12,120 11,612 508 Operating income (loss) 46 (98) 144 437 179 258 Non-operating income (expense) (38) 38 (76) (250) (429) 179 Income (loss) before income taxes and discontinued operations 8 (60) 68 187 (250) 437 Net income (loss) from continuing operations 8 (60) 68 186 (249) 435 Net income (loss) from discontinued operations - Aveos - - - (55) - (55) Net income (loss) 8 (60) 68 131 (249) 380 Adjusted net income (loss) (1) (6) (167) 161 53 (122) 175 Operating margin (%), excluding the impact of benefit plan amendments (2) 1.6% (3.6)% 5.2 pp 2.6% 1.5% 1.1 pp Operating margin % 1.6% (3.6)% 5.2 pp 3.6% 1.5% 2.1 pp EBITDAR, excluding the impact of benefit plan amendments (2) (3) 284 162 122 1,327 1,242 85 EBITDAR (3) 284 162 122 1,451 1,242 209 EBITDAR margin (%), excluding the impact of benefit plan amendments (2) (3) 10.0% 6.0% 4.0 pp 10.9% 10.7% 0.2 pp EBITDAR margin % (3) 10.0% 6.0% 4.0 pp 12.0% 10.7% 1.3 pp Cash, cash equivalents and short-term investments 2,026 2,099 (73) 2,026 2,099 (73) Free cash flow (4) (23) (62) 39 187 356 (169) Adjusted net debt (5) 4,281 4,576 (295) 4,281 4,576 (295) Net income (loss) per share - diluted $ 0.03 $ (0.22) $ 0.25 $ 0.45 $ (0.92) $ 1.37 Adjusted net income (loss) per share - diluted (1) $ (0.02) $ (0.60) $ 0.58 $ 0.19 $ (0.44) $ 0.63 Operating Statistics Change % Change % Revenue passenger miles (millions) (RPM) 12,574 12,065 4.2 55,646 54,223 2.6 Available seat miles (millions) (ASM) 15,484 15,290 1.3 67,269 66,460 1.2 Passenger load factor % 81.2% 78.9% 2.3 pp 82.7% 81.6% 1.1 pp Passenger revenue per RPM ("Yield") (cents) 19.7 19.5 1.2 19.0 18.7 1.8 Passenger revenue per ASM ("RASM") (cents) 16.0 15.4 4.2 15.8 15.3 3.2 Operating revenue per ASM (cents) 18.4 17.7 3.9 18.0 17.5 3.1 Operating expense per ASM ("CASM") (cents) 18.1 18.3 (1.3) 17.4 17.2 1.0 Adjusted CASM (cents) (6) 12.4 12.6 (2.0) 11.8 11.7 1.0 Average number of full-time equivalent (FTE) employees (thousands) (7) 24.1 23.6 2.1 24.0 23.7 1.4 Aircraft in operating fleet at period end (8) 351 352 (0.3) 351 352 (0.3) Average fleet utilization (hours per day) (9) 9.5 9.4 1.3 10.1 10.1 0.6 Revenue frequencies (thousands) 134 133 0.5 557 551 1.1 Average aircraft flight length (miles) (9) 863 857 0.8 891 892 (0.1) Economic fuel cost per litre (cents) (10) 88.8 88.6 0.2 89.7 85.2 5.3 Fuel litres (millions) (9) 924 912 1.3 3,976 3,937 1.0 Revenue passengers carried (millions) (11) 8.3 7.9 5.1 34.9 33.9 2.9(1) Adjusted net income (loss) and adjusted net income (loss) per share - diluted are non-GAAP financial measures. Refer to section 20 "Non-GAAP Financial Measures" of Air Canada's 2012 MD&A dated February 7, 2013 for additional information. (2) In the third quarter of 2012, Air Canada recorded an operating expense reduction of $124 million related to changes to the terms of the ACPA collective agreement pertaining to retirement age. (3) EBITDAR (earnings before interest, taxes, depreciation, amortization and impairment, and aircraft rent), excluding the impact of benefit plan amendments, and EBITDAR are non-GAAP financial measures. Refer to section 20 "Non-GAAP Financial Measures" of Air Canada's 2012 MD&A dated February 7, 2013 for additional information. (4) Free cash flow (cash flows from operating activities less additions to property, equipment and intangible assets) is a non-GAAP financial measure. Refer to section 9.5 of Air Canada's 2012 MD&A dated February 7, 2013 for additional information. (5) Adjusted net debt (total debt less cash, cash equivalents and short-term investments plus capitalized operating leases) is a non-GAAP financial measure. Refer to section 9.3 of Air Canada's 2012 MD&A dated February 7, 2013 for additional information. (6) Adjusted CASM is a non-GAAP financial measure. Refer to section 20 "Non-GAAP Financial Measures" of Air Canada's 2012 MD&A dated February 7, 2013 for additional information. (7) Reflects FTE employees at Air Canada. Excludes FTE employees at third party carriers (such as at Jazz Aviation LP ("Jazz")) operating under capacity purchase agreements with Air Canada. (8) Includes Jazz aircraft covered under the capacity purchase agreement between Jazz and Air Canada ("Jazz CPA") and aircraft operated by third party carriers operating under capacity purchase agreements. Refer to section 8 of Air Canada's 2012 MD&A dated February 7, 2013 for additional information on Air Canada's operating fleet. (9) Excludes charter operations. Also excludes third party carriers operating under capacity purchase agreements, other than Jazz aircraft covered under the Jazz CPA. (10) Excludes third party carriers, other than Jazz, operating under capacity purchase agreements. Includes fuel handling expenses. Economic fuel price per litre is a non-GAAP financial measure. Refer to sections 6 and 7 of Air Canada's 2012 MD&A dated February 7, 2013 for additional information. (11) Revenue passengers are counted on a flight number basis which is consistent with the IATA definition of revenue passengers carried.
  19. I don't like it. Should have stayed with the silver and have the American eagle on the tail. I think the gray looks boring and the flag design looks to much like a cartoon. Not a classic look.
  20. You can do what ever you want with my quoted text Rudder. I'm sure this is not the first post made in regards to travel passes on this website.
  21. I'm sure Westjet will not take the same approach with Encore and make the Encore employees pay more to travel then the Westjet employees.