What happened to AC's profit in 2012?

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thenoflyzone
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What happened to AC's profit in 2012?

#1 Post by thenoflyzone » Sun May 18, 2014 9:33 am

When AC released its full year 2012 financial results, it posted a net income of CAN131 million $. This was the first time in 5 years that AC was in the black.

When it posted its 2013 financial results earlier this year, somehow that 131 million in the 2012 column had disappeared and became a net income loss of CAN136 million $.

Anyone care to elaborate?

2012 financial report

http://www.aircanada.com/en/about/inves ... 012_ar.pdf

2013 financial report

http://www.aircanada.com/en/about/inves ... elease.pdf

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TheStig
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Re: What happened to AC's profit in 2012?

#2 Post by TheStig » Sun May 18, 2014 11:06 am

I believe you've mis-read the statements. Air Canada made $340 million in 2013 (according to your second link). Maybe you're thinking about the $131 million loss posted for 2014 Q1 (which is actually an improvement over 2013's Q1).
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thenoflyzone
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Re: What happened to AC's profit in 2012?

#3 Post by thenoflyzone » Sun May 18, 2014 12:40 pm

No. AC made CAN$10 million net income in 2013 (GAAP). The 340 million is for the adjusted net income, which i am not talking about.

Scroll down to page 10 of the 2013 report, and you will see the CAN$136 million loss of net income in 2012, alongside the CAN$10 million they made in 2013.
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