The consolidated statements of cashflows for Cargojet Inc. are in Exhibit 5.24. The company provides domestic air cargo services between 14 major Canadian cities and also operates international routes for cargo customers. EXHIBIT 5.24 Cargojet Inc's 2020 Consolidated Statements of Cash Flows CARGOJET INC. Consolidated Statements of Cash Flows Year ended December 31, 2020 and 2019 (in millions of Canadian dollars) Cash flows from operating activities Note 2020 2019 Net (loss) earnings Adjustments to reconcile net cash from operating activities Depreciation of property, plant and equipment and amortization of contract assets Share-based compensation $(87.8) $11.6 5.8 109.1 94.0 11 32.9 10.5 Finance costs 18 39.6 43.6 Crew incentive 11 8.5 1.9 Gain on disposal of property, plant and equipment 8 (0.8) (1.3) Impairment of property, plant and equipment 8 00 90 06 Employee pension liability 17 13.2 3.5 Inome tax provision 15 44.0 9.2 Fair value adjustment on stock warrant 5 177.9 0.9 60 Gain on total return swap 27 (50.8) (7.8) Unrealized foreign exchange gain Gain on extinguishment of debt 13 93 19 (2.2) (4.3) (1.1) Other gains and expenses (4.7) Interest paid 24.1 (25.4) manerated from operating activities 259.0 131.7