2023 Consolidated Financial Statements and Notes
AIR CANADA
5. PROPERTY AND EQUIPMENT
2023 Consolidated Financial Statements and Notes
December 31, 2023
December 31, 2022
Cost
(Canadian dollars in millions)
Accumulated
depreciation
Net book
value
Cost
Accumulated
depreciation
Net book
value
Owned tangible assets
Aircraft and flight equipment
$ 15,589
$
6,986 $ 8,603 $ 14,777
$
6,152
$
8,625
Buildings and leasehold
improvements
1,122
676
446
1,091
646
445
Ground and other equipment
697
488
209
664
491
173
Purchase deposits and assets
685
685
470
470
under development
Owned tangible assets
$
18,093 $
8,150
$
9,943
$
17,002
$
7,289
$
9,713
Right-of-use assets
Air Canada aircraft
$
4,143 $
2,966 $
1,177 $
4,042 $
2,750
$
1,292
Regional aircraft
1,591
Land and buildings
Right-of-use assets
Property and equipment
601
$
$
6,335 $
24,428 $
1,130
249
4,345 $ 1,990 $
12,495 $ 11,933 $
461
1,982
1,394
588
352
578
221
357
6,602 $
23,604 $
4,365 $
2,237
11,654
$
11,950
Additions to owned aircraft in 2023 include one new Airbus A220 and one new Boeing 787-9. Additions through the
purchase of leased aircraft include three Airbus A321, one Boeing 777-300ER, eight Mitsubishi CRJ-200 and 10
Mitsubishi CRJ-900. Additions to owned aircraft in 2022 included five new Airbus A220, nine new Boeing 737 MAX-8
and two new Boeing 767 freighter aircraft.
Included in aircraft and flight equipment are 28 aircraft and 13 spare engines (2022 - 15 aircraft and 13 spare engines)
which are leased to Jazz with a cost of $485 million (2022 - $425 million) less accumulated depreciation of $252 million
(2022 $215 million) for a net book value of $233 million (2022 - $210 million). Depreciation expense for 2023 for
these aircraft and flight equipment amounted to $60 million (2022 - $29 million).
-
Certain property and equipment are pledged as collateral as further described under the applicable debt instruments in
Note 8.
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