2023 Consolidated Financial Statements and Notes
AIR CANADA
The Corporation has recorded Interest expense as follows:
(Canadian dollars in millions)
Interest on debt
Interest on lease liabilities
Air Canada aircraft
Regional aircraft
Land and buildings
Interest expense
2023 Consolidated Financial Statements and Notes
2023
2022
$
791
$
748
85
85
45
56
23
20
$
944
$
909
The consolidated statement of operations includes the following amounts related to leases which have not been
recorded as right-of-use assets and lease liabilities.
(Canadian dollars in millions)
Short-term leases
Variable lease payments not included in lease liabilities
Expense related to leases (included in Other operating expenses)
2023
2022
$
25
$
17
43
39
$
68
$
56
Total cash outflows for payments on lease liabilities was $679 million for the year ended December 31, 2023 (2022 -
$673 million), of which $526 million was for principal repayments (2022 - $512 million).
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