2023 Consolidated Financial Statements and Notes
AIR CANADA
2023 Consolidated Financial Statements and Notes
CONSOLIDATED STATEMENTS OF OPERATIONS
For the year ended December 31
(Canadian dollars in millions except per share figures)
Operating revenues
Passenger
Cargo
Other
Total revenues
2023
2022
Note 19
$
19,403
$
14,238
Note 19
924
1,266
1,506
1,052
21,833
16,556
Operating expenses
Aircraft fuel
5,318
5,276
Wages, salaries and benefits
Note 9
3,955
3,260
Depreciation, amortization, and impairment
Note 5
1,703
1,644
Airport and navigation fees
1,418
1,213
Sales and distribution costs
1,097
797
Capacity purchase fees
Note 2D
858
763
Aircraft maintenance
Note 2J
1,083
706
Ground package costs
720
474
Communications and information technology
555
468
Catering and onboard services
628
425
Other
2,219
1,717
Total operating expenses
19,554
16,743
Operating income (loss)
2,279
(187)
Non-operating income (expense)
Foreign exchange gain (loss)
389
(732)
Interest income
416
168
Interest expense
Note 8
(944)
(909)
Interest capitalized
14
13
Financial instruments recorded at fair value
Note 16
115
133
Loss on debt settlements
Note 8
(10)
(14)
Other
(47)
4
Total non-operating expense
(67)
(1,337)
Income (loss) before income taxes
2,212
(1,524)
Income tax recovery (expense)
Note 11
64
(176)
Net income (loss)
$
2,276
$
(1,700)
Net income (loss) per share
Note 14
Basic earnings (loss) per share
Diluted earnings (loss) per share
The accompanying notes are an integral part of the consolidated financial statements.
69 69
$
6.35
$
5.96
5959
$
(4.75)
$
(4.75)
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