Table 5
Financial performance indicators, 2008 to 2010
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| Levels I and II | Level III | Levels I to III | |||||||
|---|---|---|---|---|---|---|---|---|---|
| 2008 | 2009 | 2010 | 2008 | 2009 | 2010 | 2008 | 2009 | 2010 | |
| ratio | |||||||||
| Liquidity ratios | |||||||||
| Current ratio Note 1 | 0.682 | 0.831 | 1.231 | 1.152 | 1.385 | 1.427 | 0.708 | 0.866 | 1.240 |
| Debt structure ratio Note 2 | 0.395 | 0.367 | 0.377 | 0.443 | 0.399 | 0.336 | 0.398 | 0.369 | 0.375 |
| Solvency ratios | |||||||||
| Debt-to-asset (debt) ratio Note 3 | 0.851 | 0.776 | 0.706 | 0.696 | 0.636 | 0.688 | 0.841 | 0.766 | 0.705 |
| Debt-to equity (leverage) ratio Note 4 | 5.713 | 3.466 | 2.401 | 2.284 | 1.747 | 2.200 | 5.307 | 3.279 | 2.390 |
| Profitability ratios | |||||||||
| Operating ratio Note 5 | 0.968 | 0.996 | 0.951 | 0.940 | 0.949 | 0.963 | 0.966 | 0.992 | 0.952 |
| Profit margin Note 6 | -0.045 | 0.012 | 0.026 | 0.038 | 0.037 | 0.015 | -0.039 | 0.014 | 0.026 |
| Return on assets Note 7 | -0.048 | 0.012 | 0.027 | 0.048 | 0.043 | 0.018 | -0.042 | 0.014 | 0.026 |
| Return on investment Note 8 | -0.023 | 0.041 | 0.054 | 0.067 | 0.061 | 0.038 | -0.018 | 0.043 | 0.053 |
Current ratio = Current assets divided by current
liabilities.
Debt structure ratio = Current liabilities
divided by total liabilities.
Debt-to-asset (debt) ratio = Total liabilities
divided by total assets.
Debt-to equity (leverage) ratio = Total liabilities
divided by total shareholders' equity.
Operating ratio = Operating expenses divided
by operating revenue.
Profit margin = Net income divided by operating
revenue.
Return on assets = Net income divided by total
assets.
Return on investment = Sum of net income and
interest expenses divided by total assets.
Note(s):
Level I air carriers (2009). This includes every Canadian air
carrier that, in each of the two calendar years immediately preceding the
reporting year, transported at least 1 million revenue passengers
or at least 200 thousand tonnes of cargo.
Level I air carriers (2010). This includes every Canadian air carrier that, in the calendar year before the year in which information is provided, transported at least 2 million revenue passengers or at least 400 thousand tonnes of cargo.
Level II air carriers (2009). This includes every Canadian air carrier that, in each of the two calendar years immediately preceding the reporting year, transported (a) at least 100 thousand but fewer than 1 million revenue passengers; or (b) at least 30 thousand but less than 200 thousand tonnes of cargo.
Level II air carriers (2010). This includes every Canadian air carrier that, in the calendar year before the year in which information is provided, transported (a) at least 100 thousand but fewer than 2 million revenue passengers; or (b) at least 50 thousand but less than 400 thousand tonnes of cargo.
Level III air carriers (2009). This includes every Canadian air carrier that, in each of the two calendar years immediately preceding the reporting year, realized annual gross revenues of at least 1 million dollars for the air services for which the air carrier held a licence.
Level III air carriers (2010). This includes every Canadian air carrier that (a) is not a level I air carrier or level II air carrier; and (b) in the calendar year before the year in which information is provided, realized gross revenues of at least 2 million dollars for the provision of air services for which the air carrier held a licence.
Level I air carriers (2010). This includes every Canadian air carrier that, in the calendar year before the year in which information is provided, transported at least 2 million revenue passengers or at least 400 thousand tonnes of cargo.
Level II air carriers (2009). This includes every Canadian air carrier that, in each of the two calendar years immediately preceding the reporting year, transported (a) at least 100 thousand but fewer than 1 million revenue passengers; or (b) at least 30 thousand but less than 200 thousand tonnes of cargo.
Level II air carriers (2010). This includes every Canadian air carrier that, in the calendar year before the year in which information is provided, transported (a) at least 100 thousand but fewer than 2 million revenue passengers; or (b) at least 50 thousand but less than 400 thousand tonnes of cargo.
Level III air carriers (2009). This includes every Canadian air carrier that, in each of the two calendar years immediately preceding the reporting year, realized annual gross revenues of at least 1 million dollars for the air services for which the air carrier held a licence.
Level III air carriers (2010). This includes every Canadian air carrier that (a) is not a level I air carrier or level II air carrier; and (b) in the calendar year before the year in which information is provided, realized gross revenues of at least 2 million dollars for the provision of air services for which the air carrier held a licence.
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