Tag Archives: Vancouver

Jetlines to be based in Vancouver

Jetlines made this announcement on social media:

Did you know that many of today’s most successful ULCCs fly out of primary airports while continuing to offer ultra low fares to their passengers? More travel and exploration are possible because of this!

Which ULCC’s you ask? Well, we’re talking about Spirit, easyJet, RyanAir, Vueling, Viva Aerobus, and AirAsia – to name a few.

We hear you Canada – convenience to get to and from the airport is important! But so is price. And we achieve both low-cost travel wishes by making YVR (Vancouver) home (above).

We can’t wait to welcome you onboard in the future.

The airline also issued this statement:

Jetline is pleased to announce that it has chosen Vancouver International Airport (YVR) to be its home airport and primary base of operations when it begins flight operations targeted for later this year. Jetlines has filed and received confirmation from YVR that all airport slots needed to operate their initial network using their first two Airbus A320 aircraft will be available.

Jetlines selected YVR as their future base for operations due to it being the second busiest airport in Canada, serving more than 25.9 million passengers in 2018. It is also the busiest airport in British Columbia and the airport with the largest catchment area. The airport has more than 2.5 million people living less than 30 minutes drive from it. As well as it being the closest airport to Vancouver’s city center, the airport is also extremely well connected to the city by transit with a rapid transit rail.

In addition to the desirable location and facilities, Jetlines was attracted to YVR due to their competitive rates and charges. The airport’s ConnectYVR program provides airlines a standard rate structure for landing and terminal fees. This program rewards airlines for efficiency and growing their services at YVR providing further incentive for Jetlines to build their base of operations out of Vancouver.

CEO Javier Suarez stated “I am extremely excited to be able to use Vancouver International Airport as our primary base of operations once we launch. The Greater Vancouver area population, cost to operate from the airport, and transit accessibility, linked with the enormous tourist attraction that Vancouver has, provides Jetlines with a massive business opportunity. Having launched more than 300 routes in my career with most of them out of primary airports, I have no doubt that the Vancouver Airport will offer Jetlines the opportunity to launch and profitably operate a large number of routes.”

“We welcome the news that Jetlines is planning to use YVR as their base of operations once they launch. It is great to hear that this Canadian-operated airline is making positive progress to begin offering service. We are excited that Jetlines intends to offer flights from YVR across Canada and to several sun destinations as this will provide added choice for our passengers in the future,” said Anne Murray, Vice President, Airline Business Development and Public Affairs, Vancouver Airport Authority.

The Company’s ability to service this airport is subject to the completion of the airline licensing process and the receipt of applicable regulatory approvals.

The prospective airline also announced it intends to provide ultra-low fare service from both the Kelowna International Airport (YLW) and the Winnipeg James Armstrong Richardson International Airport (YWG).

Previously announced routes:

 

Air Canada to increase Vancouver-Delhi flights to daily, expands Dreamliner service from Vancouver for Summer 2019

Air Canada Boeing 787-8 Dreamliner C-GHPQ (msn 35257) ZRH (Rolf Wallner). Image: 937929.

Air Canada announced today enhancements to four international routes from Vancouver, including increasing service to Delhi with daily flights on a year-round basis starting June 2, 2019.

In addition, Air Canada is increasing its nonstop Melbourne service to four times weekly year-round, and summer seasonal service to Zurich will increase to five flights a week. YVR-Osaka (Kansai) flights will be five times weekly from June to October next summer.

All flights will be operated with Air Canada’s flagship Boeing 787 Dreamliner aircraft.

41599984_1961602987220920_2283128924344942592_o.jpg

Connectivity:

All routes are timed to optimize connectivity at Air Canada’s Vancouver hub to and from the airline’s extensive network across North America. All Australia flights are timed to connect to and from Adelaide, Canberra, Perth and to Tasmania with codeshare partner Virgin Australia. Additionally, Air Canada’s VancouverZurich flights will connect to and from destinations in Europe and Africa.

Schedule details:

 

Route

Frequency

Operating

Depart YVR

Arrive Destination

Depart Destination

Arrive YVR

YVR-Delhi (DEL)

Daily

Year-round as of June 2, 2019

AC044 01:25

DEL @ 04:00
(+1 day)

AC045 @ 06:00

07:30

YVR-Melbourne (MEL)

4 times weekly

Year-round as of June 3, 2019

AC037 @ 22:50 Mon/Wed/Fri/
Sun

MEL @ 08:05

(+2 days)

AC038 @ 09:40 Tue/Wed/Fri/
Sun

07:35

YVR-Zurich (ZRH)

5 times weekly

Jun. 6 – Oct. 13 2019

AC802 @ 13:00 Tue/Thu/Fri/Sat/Sun

ZRH @ 07:55
(+1 day)

AC803 @ 10:05 Mon/Wed/Fri/Sat/Sun

11:25

YVR-Osaka (KIX)

Up to
5 times weekly

Jun. 1 – Oct. 25 2019

AC039 @ 13:30 Mon/Tues/Wed/Thu/Sat

KIX @ 15:45 (+1 day)

AC040 @17:15 Tue/Wed/Thu/Fri/Sun

10:10

 

Vancouver expansion in 2018:

To date this year, Air Canada launched new services from its Vancouver hub to: Melbourne (extended to year-round), Paris(summer seasonal), Zurich (summer seasonal), Sacramento (year-round) and will launch new services to Lihue, Hawaii(seasonal) beginning Dec. 15, 2018.  This summer, Air Canada operated an average of 185 daily flights representing up to 23,500 available seats departing YVR every day.

Top Copyright Photo (all others by Air Canada): Air Canada Boeing 787-8 Dreamliner C-GHPQ (msn 35257) ZRH (Rolf Wallner). Image: 937929.

Air Canada aircraft slide show:

x

Alaska to terminate the Vancouver – Los Angeles route

Revised 2015 livery

Alaska Airlines (Seattle/Tacoma) will drop the Vancouver – Los Angeles route in June. The daily route will be dropped on June 4, 2016 per Airline Route.

Copyright Photo: Michael B. Ing/AirlinersGallery.com.  Boeing 737-990 N303AS (msn 30017) with the revised titles approaches the runway at Los Angeles International Airport.

Alaska Airlines aircraft slide show: AG Airline Slide Show

AG Aviation Gifts and Keepsakes

Air Canada to upgrade the Newark – Vancouver route to Boeing 787-8s

Air Canada Boeing 787-8 Dreamliner C-GHPQ (msn 35257) ZRH (Andi Hiltl). Image: 923112.

Air Canada (Montreal) will up gauge the daily Newark – Vancouver route from Airbus A319s to Boeing 787-8s for next summer starting on June 17, 2016 per Airline Route.

Copyright Photo: Andi Hiltl/AirlinersGallery.com. Boeing 787-8 C-GHPQ (msn 35257) arrives in Zurich.

Air Canada aircraft slide show: AG Airline Slide Show

AG Prints-Lustre-Glossy-Matte-Metallic

Air Canada increases the number of weekly flights on the Brisbane route

Air Canada Boeing 787-8 Dreamliner C-GHPY (msn 35262) ZRH (Rolf Wallner). Image: 927912.

Air Canada (Montreal) has announced it plans to increase its new nonstop flights from Vancouver to Brisbane, Australia to daily from three times weekly beginning June 17, 2016.

The route is operated with Boeing 787-8 Dreamliner aircraft featuring 20 International Brouteusiness Class lie-flat seat suites, 21 Premium Economy and 210 Economy Class seats.

As a result of its ongoing expansion, Air Canada provides scheduled passenger service directly to 63 airports in Canada, 52 in the United States and 86 in Europe, the Middle East, Africa, Asia, Australia, the Caribbean, Mexico, Central America and South America.

This year to date, Air Canada has launched new international services from Montreal-Venice, Montreal-Mexico City, Toronto-Amsterdam, Toronto-Dubai, Toronto-Delhi and Vancouver-Osaka.

Next summer, Air Canada will be launching new international services from Montreal-Casablanca, Montreal-Lyon, Toronto-Prague, Toronto-Budapest, Toronto-Glasgow, Toronto-London Gatwick, Toronto-Warsaw, Toronto-Seoul, Vancouver-Brisbane and Vancouver-Dublin.

Copyright Photo: Rolf Wallner/AirlinersGallery.com.  Boeing 787-8 Dreamliner C-GHPY (msn 35262) taxies at Zurich.

Air Canada aircraft slide show: AG Airline Slide Show

AG Prints-6 Sizes and 4 Finishes

Air Canada rouge to operate seasonal Vancouver – Dublin flights next summer

Air Canada rouge (Air Canada) Boeing 767-333 ER WL C-FMWV (msn 25586) YVR (Chris Sands). Image: 930167.

Air Canada (Montreal) has announced a further, strategic expansion of its Vancouver hub with the addition of the only nonstop flights to Dublin, Ireland next summer. This new seasonal route follows the recent announcement of several enhancements at the airline’s Vancouver hub for 2016, including new transborder services to Chicago, San Jose and San Diego, double daily flights to London Heathrow, and the only flights linking Canada to Brisbane, Australia. The Vancouver-Dublin flights will be operated three times weekly by Air Canada’s leisure airline, Air Canada rouge, with Boeing 767-300 ER aircraft beginning June 10, 2016.

This year to date, Air Canada has launched new international services from Montreal-Venice, Montreal-Mexico City, Toronto-Amsterdam, Toronto-Dubai, Toronto-Delhi and Vancouver-Osaka.

Next summer, Air Canada will be launching new international services from Montreal-Casablanca, Montreal-Lyon, Toronto-Prague, Toronto-Budapest, Toronto-Glasgow, Toronto-London Gatwick, Toronto-Warsaw, Toronto-Seoul, Vancouver-Brisbane and Vancouver-Dublin.

Copyright Photo: Chris Sands/AirlinersGallery.com. Boeing 767-333 ER C-FMWV (msn 25586) lands at Vancouver International Airport.

Air Canada rouge aircraft slide show: AG Airline Slide Show

AG Unique holiday aviation gifts

AG Thank you

Air Canada to offer double-daily Vancouver-London Heathrow service next summer

Air Canada (Montreal) has announced it is boosting international flights at its Vancouver (YVR) hub next summer with double daily flights from YVR to London Heathrow. In addition, the airline’s new nonstop flights from Vancouver to Brisbane, Australia will now launch two weeks earlier on June 1, 2016 to meet demand.

AC will use Boeing 777-300 ERs and 787-9 Dreamliners on the YVR-LHR route.

Copyright Photo: TMK Photography/AirlinersGallery.com. Boeing 787-9 Dreamliner C-FNOE (msn 35265) departs from Toronto (Pearson).

Air Canada aircraft slide show: AG Airline Slide Show

AG Aviation Gifts and Keepsakes

National Airlines is coming to Vancouver and Windsor from Sanford, Florida

National Airlines (5th) (Orlando) is expanding to Vancouver, British Columbia.

Vancouver International Airport (YVR) issued this statement:

YVR Airport logo

Vancouver Airport Authority has announced the upcoming arrival of National Airlines to Vancouver International Airport (YVR). Starting January 20, 2016 , the twice weekly scheduled service will operate between Orlando-Sanford International Airport (SFB) and YVR.

 

National Airlines will operate a Boeing 757-200 aircraft on the route. Flights will depart SFB on Wednesdays and Saturdays at 18:45 and arrive in YVR at 22:15. The aircraft will turn around and leave YVR at 23:55 and arrive in SFB at 08:30 the following morning.

NATIONAL AIRLINES LOGO

Previously National Airlines announced nonstop service between Windsor, Ontario, (YQG), and Sanford, Florida, (SFB). The inaugural flight, on Thursday, December 17, 2015, will depart Windsor International Airport at 2:30 PM EST and arrive Orlando-Sanford International Airport at 5:00 PM EST. National Airlines will fly this route year ‘round. National will offer return flights from Orlando-Sanford International Airport also on Thursdays and Sundays, departing at 10:30 AM EST and arriving in Windsor at 1:00 PM EST.

National Sanford Poster

This winter National Airlines will operate nonstop service from Orlando-Sanford International Airport to five destinations:

  • Las Vegas McCarren International Airport *
  • San Juan Luiz Munoz’ International Airport, Puerto Rico (SJU) *
  • Windsor International Airport, Ontario
  • Vancouver International Airport, British Colombia
  • St. Johns International Airport, Newfoundland

* Flights to/or from Las Vegas and San Juan are Public Charters under DOT PC # 15-189, and operated by National Air Cargo, Inc. d/b/a National Airlines.

Copyright Photo: Tony Storck/AirlinersGallery.com. National Airlines (National Air Cargo Group) (5th) Boeing 757-28A N176CA (msn 24543) with special Expo 2020 Dubai UAE markings taxies at Baltimore/Washington (BWI).

National Airlines (5th) aircraft slide show: AG Airline Slide Show

Route Map:

National (5th) 10.2015 Route Map

AG You do not have to pay

 

Pacific Coastal announces new service between Victoria and Kelowna

Pacific Coastal Airlines (Vancouver) has announce the addition of a new route to its network of more than sixty-five destinations in British Columbia effective Tuesday, October 27, 2015.

Pacific Coastal logo

The new Victoria (YYJ) to Kelowna (YLW) flights will operate seven days a week using Saab 340 aircraft.

Pacific Coastal began nonstop service between Victoria and Prince George in January of this year.

Copyright Photo: Ton Jochems/AirlinersGallery.com. Pacific Coastal Airlines’ SAAB 340B C-FPCU (msn 338) sports the new 2015 color scheme.

Pacific Coastal aircraft slide show: AG Airline Slide Show

Route Map:

Pacific Coastal 8.2015 Route Map

Video:

Air Canada reports a record second quarter net profit

Air Canada (Montreal) reported record second quarter adjusted net income of $250 million (1) (all amounts are reported in Canadian dollars) or $0.85 per diluted share compared to adjusted net income of $139 million or $0.47 per diluted share in the second quarter of 2014, an improvement of $111 million or approximately 80 percent. EBITDAR(1) (earnings before interest, taxes, depreciation, amortization and aircraft rent) amounted to $591 million compared to EBITDAR of $456 million in the same quarter in 2014, an increase of $135 million or approximately 30 per cent year-over-year. The airline recorded an EBITDAR margin of 17.3 per cent compared to an EBITDAR margin of 13.8 per cent in the second quarter of 2014, an improvement of 3.5 percentage points. On a GAAP basis, Air Canada reported record second quarter operating income of $323 million compared to operating income of $245 million, an improvement of $78 million or approximately 32 per cent from the second quarter of 2014. An operating margin of 9.5 per cent in the second quarter of 2015 reflected an improvement of 2.1 percentage points from the same quarter in 2014.

Air Canada logo-1

“We again expect to deliver record results in the third quarter, with EBITDAR margin expansion versus prior year higher than the 350 basis point expansion recorded in the second quarter. Demand continues to be robust moving into, historically, our most important quarter given the travel demands and patterns of our North American customers. Our capacity additions for the year, which are largely in our international markets, are important contributors to our increased profits and remain consistent with our plan established in a higher fuel price environment. Our plan is not dependant or conditional on fuel prices staying at the current levels; and the transformative changes we have made over the last several years provide us with the cost structure, fleet and flexibility to respond not only to increased competition in any of our key markets, but also to weaknesses in the Canadian dollar or a downturn in the economy. If we see demand weakening, we can adjust quickly. We are building a resilient airline for the long-term, a sustainably profitable company and global industry leader,” said Mr. Rovinescu.

Second Quarter Income Statement Highlights

In the second quarter of 2015, on capacity growth of 9.3 per cent, system passenger revenues of $3.082 billion increased $117 million or 3.9 per cent from the second quarter of 2014. Traffic growth of 8.7 per cent reflected traffic increases in all of Air Canada’s five geographic markets. A yield decline of 5.0 per cent, consistent with the anticipated yield impact stemming from the implementation of the airline’s strategic plan, reflected an increase in average stage length of 3.4 per cent, which had the effect of reducing system yield by 1.9 percentage points, a higher proportional growth of lower-yielding international-to-international passenger flows in support of the airline’s international expansion strategy, a higher proportion of seats into long-haul leisure markets, and a reduction in carrier surcharges relating to lower fuel prices, particularly where carrier surcharges are regulated. The favourable impact of a weaker Canadian dollar on foreign currency denominated passenger revenues increased passenger revenues by approximately $61 million in the second quarter of 2015. Passenger revenue per available seat mile (PRASM) decreased 5.5 per cent from the second quarter of 2014 on the lower yield and, to a much lesser extent, a passenger load factor decline of 0.5 percentage points.

In the second quarter of 2015, operating expenses of $3.091 billion increased $31 million or 1.0 per cent from the second quarter of 2014 on the capacity growth of 9.3 per cent. The increase in operating expenses reflected the impact of the weaker Canadian dollar and capacity-related cost increases largely offset by the impact of lower jet fuel prices. The second quarter of 2015 included impairment charges of $14 million and favourable tax-related provision adjustments of $23 million while the second quarter of 2014 included favourable tax-related provision adjustments of $41 million (the impairment charges and tax-related provision adjustments are excluded from adjusted net income and adjusted CASM results). The unfavourable impact of a weaker Canadian dollar on foreign currency denominated operating expenses (mainly U.S. dollars) in the second quarter of 2015, when compared to the second quarter of 2014, increased operating expenses by approximately $134 million (comprised of $73 million in aircraft fuel expense and an aggregate of $61 million in non-fuel operating expenses).

Air Canada’s cost per available seat mile (CASM) decreased 7.6 per cent from the second quarter of 2014. The airline’s adjusted CASM(1), which excludes fuel expense, the cost of ground packages at Air Canada Vacations® and unusual items (such as the impairment charges and the tax-related provision adjustments discussed above) increased 0.7 per cent from the second quarter of 2014, in line with the 0.25 to 1.25 per cent increase projected in Air Canada’s news release dated May 12, 2015. Had the Canadian-U.S. dollar exchange rate remained at 2014 levels, adjusted CASM would have decreased 1.8 per cent when compared to the second quarter of 2014.

Financial and Capital Management Highlights

At June 30, 2015, unrestricted liquidity (cash, short-term investments and undrawn lines of credit) amounted to $3.283 billion (June 30, 2014 – $2.954 billion).

Adjusted net debt amounted to $4.896 billion at June 30, 2015, a decrease of $236 million from December 31, 2014 as higher cash and short-term investments balances more than offset the increase in long-term debt and finance lease balances (including current portion). The airline’s adjusted net debt to EBITDAR ratio was 2.3 at June 30, 2015 versus a ratio of 3.1 at December 31, 2014.

In the second quarter of 2015, net cash flows from operating activities totaled $509 million, an improvement of $123 million from the second quarter of 2014. Free cash flow(1) amounted to $299 million, $335 million higher than the second quarter of 2014. This increase reflected a decrease in capital expenditures of $212 million and the higher cash flows from operating activities.

For the 12 months ended June 30, 2015, return on invested capital (ROIC(1)) was 16.2 per cent versus 11.0 per cent for the 12 months ended June 30, 2014.

Current Outlook

EBITDAR Margin

For the third quarter of 2015, Air Canada expects to deliver record results, with EBITDAR margin expansion versus prior year higher than the 350 basis point expansion recorded in the second quarter of 2015.

Capacity

Air Canada expects third quarter 2015 system ASM capacity, as measured by available seat miles (ASMs), to increase 9.5 to 10.5 per cent when compared to the third quarter of 2014, and to be comprised of an increase in the total number of seats dispatched (system) of 6.5 to 7.5 per cent and an increase in system average stage length (measured by ASMs divided by seats dispatched) of approximately 3.0 per cent when compared to the same quarter in 2014.

Air Canada continues to expect its full year 2015 system ASM capacity to increase by 9.0 to 10.0 per cent. For the full year 2015, Air Canada continues to expect an increase in the total number of seats dispatched (system) of 6.0 to 7.0 per cent and an increase in average stage length (system) of approximately 3.0 per cent when compared to the full year 2014. Approximately 55 per cent of the 2015 forecasted capacity increase will be through the continued lower-cost growth of Air Canada rouge® while approximately 38 per cent of the capacity growth will be targeted to international markets operated by the mainline carrier.

Air Canada now expects its full year 2015 domestic ASM capacity to increase by 3.0 to 4.0 per cent when compared to 2014 as opposed to the 3.5 to 4.5 per cent increase projected in Air Canada’s May 12, 2015 news release, primarily the result of minor schedule changes. The year-over-year growth in full year 2015 domestic ASM capacity is largely focused on the airline’s transcontinental services, reflecting, in large part, the positioning of certain Boeing 777 and 787 aircraft at Air Canada’s major hubs in Toronto and Vancouver. Furthermore, in 2015, an overlap of the aircraft brought into the fleet to replace the exiting Embraer 190 aircraft is expected to account for approximately 30 per cent of the projected domestic capacity growth in 2015. This overlap is designed to better match capacity with expected 2015 summer season demand. For the full year 2015, Air Canada now expects an increase in the total number of seats dispatched (domestic) of 2.0 to 3.0 per cent and an increase in average stage length (domestic) of approximately 1.0 per cent when compared to the full year 2014.

Adjusted CASM

For the third quarter of 2015, Air Canada expects adjusted CASM (which excludes fuel expense, the cost of ground packages at Air Canada Vacations and unusual items) to decrease by 0.5 to 1.5 per cent when compared to the third quarter of 2014.

For the full year 2015, Air Canada now expects adjusted CASM to decrease 1.0 to 2.0 per cent from the full year 2014 as opposed to the decrease of 1.5 to 2.5 per cent projected in Air Canada’s May 12, 2015 news release, reflecting, in large part, the impact of a weaker Canadian dollar on U.S. denominated operating expenses.

Major Assumptions

Air Canada’s outlook assumes relatively low Canadian GDP growth for 2015. Air Canada also expects that the Canadian dollar will trade, on average, at C$1.30 per U.S. dollar in the third quarter of 2015 and C$1.27 for the full year 2015 and that the price of jet fuel will average 62 cents per litre for the third quarter of 2015 and 64 cents per litre for the full year 2015.

For the full year 2015, Air Canada also expects:

  • Depreciation, amortization and impairment expense to increase by $125 million from the full year 2014 as opposed to the increase of $100 million projected in Air Canada’s May 12, 2015 news release. The increase in projected depreciation, amortization and impairment expense is largely driven by the impairment charges recorded in the second quarter of 2015.
  • Employee benefits expense to increase $30 million from the full year 2014 (as opposed to the increase of $50 million projected in Air Canada’s May 12, 2015 news release). The lower expected increase in employee benefits expense is primarily driven by benefit plan amendments relating to U.S. post-retirement health plans which reduced employee benefits expense by $19 million in the second quarter of 2015.
  • Aircraft maintenance expense to increase $90 million as opposed to the $120 million increase projected in Air Canada’s May 12, 2015 news release. The lower expected increase in aircraft maintenance expense is mainly driven by the timing of engine maintenance events when compared to 2014 and certain contract amendments.

(1) Non-GAAP Measures

Below is a description of certain non-GAAP measures used by Air Canada in order to provide readers with 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. Refer to Air Canada’s Second Quarter 2015 MD&A for 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 the overall financial performance of its business without the effects of foreign exchange, net financing income (expense) relating to employee benefits, mark-to-market adjustments on fuel and other derivatives and unusual items as these items may distort the analysis of certain business trends and render comparative analysis to other airlines less meaningful. Air Canada also uses adjusted net income as a measure to determine return on invested capital.

EBITDAR is commonly used in the airline industry and is used by Air Canada to assess earnings before interest, taxes, depreciation, amortization, 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 and cost 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 analysis 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.

Return on invested capital (ROIC) is used by Air Canada to assess the efficiency with which it allocates its capital to generate returns. Return is based on adjusted net income (loss) (as referred to in the paragraph above), excluding interest expense and implicit interest on operating leases. Invested capital includes average year-over-year total assets, net of average year-over-year non-interest-bearing operating liabilities, and the value of capitalized operating leases (calculated by multiplying annualized aircraft rent by 7).

Notes:

(1)
Adjusted net income (loss) and adjusted net income (loss) per share – diluted are non-GAAP financial measures. Refer to section 16 “Non-GAAP Financial Measures” of Air Canada’s Second Quarter 2015 MD&A for additional information.
(2)
EBITDAR (earnings before interest, taxes, depreciation, amortization, impairment and aircraft rent) is a non-GAAP financial measure. Refer to section 16 “Non-GAAP Financial Measures” of Air Canada’s Second Quarter 2015 MD&A for additional information.
(3)
Unrestricted liquidity refers to the sum of cash, cash equivalents, short-term investments and the amount of available credit under Air Canada’s revolving credit facilities. At June 30, 2015, unrestricted liquidity was comprised of cash and short-term investments of $3,021 million and undrawn lines of credit of $262 million. At June 30, 2014, unrestricted liquidity was comprised of cash and short-term investments of $2,615 million and undrawn lines of credit of $339 million.
(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 7.5 “Consolidated Cash Flow Movements” of Air Canada’s Second Quarter 2015 MD&A for additional information.
(5)
Adjusted net debt (total debt less cash, cash equivalents and short-term investments plus capitalized operating leases) is an additional GAAP financial measure. Refer to section 7.3 “Adjusted Net Debt” of Air Canada’s Second Quarter 2015 MD&A for additional information.
(6)
Return on invested capital (“ROIC”) is a non-GAAP financial measure. Refer to section 16 “Non-GAAP Financial Measures” of Air Canada’s Second Quarter 2015 MD&A for additional information.
(7)
Except for the reference to average number of FTE employees, operating statistics in this table include third party carriers (such as Jazz Aviation LP (“Jazz”) and Sky Regional Airlines Inc. (“Sky Regional”)) operating under capacity purchase agreements with Air Canada.
(8)
Adjusted CASM is a non-GAAP financial measure. Refer to section 16 “Non-GAAP Financial Measures” of Air Canada’s Second Quarter 2015 MD&A for additional information.
(9)
Reflects FTE employees at Air Canada. Excludes FTE employees at third party carriers (such as Jazz and Sky Regional) operating under capacity purchase agreements with Air Canada.
(10)
Average stage length is calculated by dividing the total number of available seat miles by the total number of seats dispatched.
(11)
Revenue passengers are counted on a flight number basis which is consistent with the IATA definition of revenue passengers carried.

Copyright Photo: Rob Rindt/AirlinersGallery.com. A beautiful portait of Boeing 787-8 Dreamliner C-GHPU (msn 35259) departing from Vancouver International Airport (YVR).

Air Canada aircraft slide show: AG Airline Slide Show

Facebook More Airline News (600)