Fourth Quarter and Full Year 2021 Financial Results Fourth Quarter and Full Year 2021 Financial Results
• In the fourth quarter of 2021, Air Canada’s operating capacity, measured as Available Seat Miles (ASMs) increased 134 per cent from fourth quarter 2020 ASMs. When compared to the fourth quarter of 2019, it represented a decline of 47 percent, which is in line with the expectations discussed in Air Canada’s third quarter 2021 earnings release dated November 2, 2021
• Fourth quarter 2021 passenger revenues of $2.041 billion increased more than four times from the fourth quarter of 2020
• Fourth quarter 2021 total operating revenues of $2.731 billion increased $1.904 billion or more than three times from the fourth quarter of 2020
• Fourth quarter 2021 total operating expenses of $3.234 billion increased $1.404 billion or 77 per cent from the fourth quarter of 2020
• Fourth quarter 2021 net loss of $493 million or $1.38 per diluted share compared to a net loss of $1.161 billion or $3.91 per diluted share in the fourth quarter of 2020
• In 2021, Air Canada’s ASMs decreased 11 per cent from 2020. When compared to 2019, it represented a decline of 70 per cent
• 2021 passenger revenues of $4.498 billion increased $116 million or three per cent from 2020
• 2021 total operating revenues of $6.400 billion increased $567 million or 10 per cent compared to 2020
• 2021 total operating expenses of $9.449 billion decreased $160 million or two per cent from 2020
• 2021 net loss of $3.602 billion or $10.25 per diluted share compared to a net loss of $4.647 billion or $16.47 per diluted share in 2020
• Unrestricted liquidity of $10.4 billion at December 31, 2021