Continued Strong EBITDAR Margins
Non-GAAP Financial Measures
Air Canada uses certain non-GAAP financial measures that are derived from its consolidated
financial statements, but that are not recognized financial measures for financial statement
presentation under GAAP. Reconciliations of those measures to comparable GAAP measures for
the relevant periods can be found in Air Canada's Management's Discussion and Analysis reports,
which are available on Air Canada's website at aircanada.com
Adjusted Net Income (Loss)
.
Air Canada uses adjusted net income (loss) to assess the performance of its business without the
effects of foreign exchange, net financing income (expense) relating to employee benefits, mark-to-
market adjustments on derivatives and other financial instruments recorded at fair value, gain on
sale and leaseback of assets, loss on debt settlements and special items
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