Continued Strong EBITDAR Margins
Net Tax Loss Carry Forwards Coming to an End
Implications
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Tax
At December 31, 2016, Air Canada had total unrecognized temporary differences of
$3.4 billion, including unrecognized non-capital loss carryforwards of $1.1 billion
We expect to be required to pay Ontario Minimum Tax which is estimated to be less than
$20 million per year over 2017 to 2020 period
Based on current profitability trends and projections for future financial performance,
there may be recognition of deferred income tax assets in 2017, following which
Air Canada will record current and deferred income tax expense on the consolidated
statement of operations in future periods, as applicable
We do not expect to pay any significant federal cash taxes until 2021 (essentially for
2020 fiscal year)
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