Free cash flow (2) (495) 669 (1,164) 1,294 2,756 (1,462)
---------------------- --------- --------- ------- --------- --------- -------
Net debt (2) 4,918 4,567 351 4,918 4,567 351
---------------------- --------- --------- ------- --------- --------- -------
Diluted earnings
(loss) per share (1.81) 0.41 (2.22) 4.72 5.96 (1.24)
---------------------- --------- --------- ------- --------- --------- -------
Adjusted earnings
(loss) per share
(2) 0.25 (0.12) 0.37 3.55 4.56 (1.01)
---------------------- --------- --------- ------- --------- --------- -------
Operating Statistics Change Change
(4) 2024 2023 % 2024 2023 %
--------- --------- ------- --------- --------- -------
Revenue passenger
miles (RPMs)
(millions) 20,573 20,405 0.8 88,643 85,802 3.3
---------------------- --------- --------- ------- --------- --------- -------
Available seat miles
(ASMs) (millions) 24,949 24,439 2.1 104,381 99,012 5.4
---------------------- --------- --------- ------- --------- --------- -------
Passenger load factor (1.0) (1.7)
% 82.5 % 83.5 % pp 85.0 % 86.7 % pp
---------------------- --------- --------- ------- --------- --------- -------
Passenger revenue per
RPM (Yield) (cents) 23.0 22.3 3.0 22.3 22.6 (1.0)
---------------------- --------- --------- ------- --------- --------- -------
Passenger revenue per
ASM (PRASM) (cents) 18.9 18.6 1.7 18.9 19.6 (3.4)
---------------------- --------- --------- ------- --------- --------- -------
Operating revenue per
ASM (TRASM) (cents) 21.7 21.2 2.3 21.3 22.1 (3.3)
---------------------- --------- --------- ------- --------- --------- -------
Operating expense per
ASM (CASM) (cents) 22.7 20.9 8.8 20.1 19.8 1.8
---------------------- --------- --------- ------- --------- --------- -------
Adjusted CASM (cents)
(2) 15.1 14.2 5.7 13.8 13.5 2.3
---------------------- --------- --------- ------- --------- --------- -------
Average number of
full-time-equivalent
(FTE) employees
(thousands) (5) 37.1 36.4 1.9 37.1 35.7 4.0
---------------------- --------- --------- ------- --------- --------- -------
Aircraft in operating
fleet at period-end 354 361 (1.9) 354 361 (1.9)
---------------------- --------- --------- ------- --------- --------- -------
Seats dispatched
(thousands) 13,796 13,636 1.2 56,745 54,026 5.0
---------------------- --------- --------- ------- --------- --------- -------
Aircraft frequencies
(thousands) 94.5 93.4 1.2 387.9 373.1 4.0
---------------------- --------- --------- ------- --------- --------- -------
Average stage length
(miles) (6) 1,808 1,792 0.9 1,839 1,833 0.4
---------------------- --------- --------- ------- --------- --------- -------
Fuel cost per litre
(cents) 94.6 117.6 (19.6) 100.6 111.6 (9.9)
---------------------- --------- --------- ------- --------- --------- -------
Fuel litres
(thousands) 1,225,281 1,178,926 3.9 5,082,636 4,751,692 7.0
---------------------- --------- --------- ------- --------- --------- -------
Revenue passengers
carried (thousands)
(7) 10,929 10,899 0.3 45,886 44,790 2.4
---------------------- --------- --------- ------- --------- --------- -------
(1) Operating margin is a supplementary financial measure and is defined as
operating income (loss) as a percentage of operating revenues.
(2) Adjusted pre-tax income (loss), adjusted net income (loss), adjusted
earnings (loss) per share, adjusted EBITDA (earnings before interest,
taxes, depreciation, and amortization), adjusted EBITDA margin, free cash
flow, net debt and adjusted CASM are non-GAAP financial measures, capital
management measures, non-GAAP ratios or supplementary financial measures.
Such measures are not recognized measures for financial statement
presentation under GAAP, do not have standardized meanings, may not be
comparable to similar measures presented by other entities and should not
be considered a substitute for or superior to GAAP results. Refer to
section "Non-GAAP Financial Measures" of this release for descriptions of
Air Canada's non-GAAP financial measures and for a quantitative
reconciliation of Air Canada's non-GAAP financial measures to the most
comparable GAAP measure.
(3) Total liquidity refers to the sum of cash, cash equivalents, short and
long-term investments, and the amounts available under Air Canada's
credit facilities. Total liquidity, as at December 31, 2024, of $9,154
million consisted of $7,752 million in cash, cash equivalents, short- and
long-term investments and $1,402 million available under undrawn credit
facilities. As at December 31, 2023, total liquidity of $10,290 million
consisted of $9,295 million in cash, cash equivalents, short- and
long-term investments and $995 million available under undrawn credit
facilities. These amounts also include funds ($346 million as at December
31, 2024, and $393 million as at December 31, 2023) held in trust by Air
Canada Vacations in accordance with regulatory requirements governing
advance sales for tour operators.
(4) Except for the reference to average number of full-time equivalent (FTE)
employees, operating statistics in this table include third party
carriers operating under capacity purchase agreements with Air Canada.
(5) Reflects FTE employees at Air Canada and its subsidiaries. Excludes FTE
employees at third-party carriers operating under capacity purchase
agreements with Air Canada.
(6) Average stage length is calculated by dividing the total number of
available seat miles by the total number of seats dispatched.
(7) Revenue passengers are counted on a flight number basis (rather than by
journey/itinerary or by leg), which is consistent with the IATA
definition of revenue passengers carried.
(8) "pp" denotes percentage points and refers to a measure of the arithmetic
difference between two percentages.
View original content to download multimedia:https://www.prnewswire.com/news-releases/air-canada-reports-fourth-quarter-and-full-year-2024-financial-results-302376635.html
SOURCE Air Canada
/CONTACT: Contacts: media@aircanada.ca
(END) Dow Jones Newswires
February 13, 2025 18:28 ET (23:28 GMT)