Friday, February 09, 2007

Fudging The Books

It's what you get when you privatize. If Air Canada had remained a nationalized airline howls would be heard in the halls of parliament over this accounting jiggery pokery.

For the full year, Air Canada recorded operating income of $259 million, down from $318 million in 2005 amid a 16 per cent rise in fuel costs.

Full-year operating income was $522 million, excluding one-time charges, compared with $455 million in 2005.


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