• New flights from Toronto to Oslo*, Norway; Shannon, Ireland; Nice, France
• Toronto to London Heathrow Day-tripper flights return; Toronto to Shanghai flights increase to daily
• New Toronto to Guatemala City route launching in December becomes year-round
• More international flights to come with Toronto-based Boeing 787-10 fleet arriving at end of year

MONTRÉAL, September 3, 2026 – Air Canada today announced an ongoing network expansion at its Toronto global hub with the addition of four new international routes, plus improvements on two celebrated routes. Beginning in Summer 2027, Air Canada will launch new flights from Toronto to Oslo*, Norway; Shannon, Ireland; and Nice, France. The airline is also resuming the Toronto to London-Heathrow Day-tripper service, boosting its Toronto to Shanghai flights to daily, and its new Toronto to Guatemala City flights launching this December will operate year-round.

These new services further strengthen Toronto Pearson as Air Canada’s largest hub, linking the Greater Toronto Area to over 150 destinations across Canada and around the world.

Flights are now available for purchase at aircanada.com, through Air Canada Contact Centres and via travel agents.

“Air Canada continues to expand its global hub at Toronto Pearson into a leading international gateway in North America. Strengthened by the recent addition of several sought-after destinations in Europe, Latin America and Asia, Air Canada’s upcoming growth from Canada’s largest metropolitan area will unlock the only non-stop flights from North America to Norway, the only non-stop flights from Canada to Shannon, Ireland, and the only non-stop services from Toronto to Nice and Guatemala City. We are also making several highly anticipated capacity enhancements to key markets, including the resumption of the Daytripper service between Toronto and London Heathrow, and boosting our flights between Toronto and Shanghai to daily, further cementing Toronto Pearson’s position as Canada’s largest global gateway,” said Mark Galardo, Executive Vice President & Chief Commercial Officer, and President, Cargo.

“Air Canada’s further expansion at Toronto Pearson reflects the strength of partnership and Pearson’s position in connecting Canada to the world,” said Deborah Flint, President and CEO of Toronto Pearson. “The airline’s new service to Oslo, Shannon and Nice, along with enhanced connectivity to other key international destinations, strengthen vital links to global markets. Simply put, this gives passengers more choice. As Canada’s largest international hub, Toronto Pearson supports the movement of people, goods and investment that drive economic growth across Ontario and the country. We are excited for this expansion of connectivity that unlocks new opportunities for passengers, businesses and communities.”

“Enabled by the momentum behind our New Frontiers strategy, Toronto Pearson’s geographic advantage being at the intersection of major international demand flows, and our growing, modern fleet, Toronto is an important part of our long-term plans. Our expansion plays an important role in connecting our customers, our country and the Americas to the world. Air Canada’s continued expansion at Toronto Pearson contributes significantly to the Greater Toronto Area’s GDP, supports regional employment, and facilitates the economic opportunities associated with international trade and tourism. Later this year, our Toronto Airbus A321XLR base will open, and we will take delivery of our first Toronto-based Boeing 787-10 aircraft. Expect more exciting Toronto network announcements and further details regarding our initial Boeing 787-10 plans in the coming months,” concluded Mr. Galardo.

Air Canada previously announced the addition of new services this winter from Toronto to Quito, Ecuador; Tenerife, Spain, and year-round operations to Manchester, U.K. and Copenhagen, Denmark. Services to Tenerife, Manchester and Copenhagen will be operated by Air Canada’s new Airbus A321XLR aircraft, featuring the airline’s new Glowing Hearted interiors.

Air Canada’s New Toronto Route Schedules**

Toronto to Norway’s Viking fjords - Air Canada is a leading North America airline in Scandinavia serving three destinations, Oslo, Stockholm and Copenhagen, and is the only North American airline with non-stop flights to Norway. Air Canada’s Oslo flights will be operated onboard its new Airbus A321XLR fleet featuring two cabins including the premium Air Canada Signature cabin with lie-flat seats. Flights have been scheduled to connect conveniently at its Toronto global hub to a multitude of destinations across North America.

Toronto to Shannon and the Wild Atlantic Way - Shannon represents Air Canada’s second destination in Ireland, complementing the airline’s long-standing services to Dublin. Air Canada is the only airline to offer non-stop service between Canada and Shannon, home of Ireland’s renowned, magnificent west coast. Air Canada’s Shannon flights will be operated onboard its new Airbus A321XLR fleet featuring two cabins including the premium Air Canada Signature cabin with lie-flat seats. Flights have been scheduled to connect conveniently at its Toronto global hub to a multitude of destinations across North America.

Toronto to the French Riviera - Air Canada is the only airline with non-stop service linking Toronto to Nice, and these services complement the airline’s long-standing Montréal-Nice services for a combined daily service to France’s top summer vacation spot and one of Europe’s leading beach destinations. Air Canada’s Toronto-Nice flights will be operated onboard its Airbus A330-300 fleet featuring Air Canada Signature, Premium Economy and Economy cabins, connecting conveniently at its Toronto global hub to a multitude of destinations across North America.

Toronto to the Land of Eternal Spring – Air Canada is the only airline with non-stop service linking Toronto Guatemala City, and this route will launch in early December 2026 and become year-round. The Air Canada’s Toronto-Guatemala City flights complement the airline’s flights from Montréal-Guatemala City which launched in October 2025. Air Canada’s Toronto-Guatemala City flights will be operated onboard Airbus A330-300 fleet featuring Air Canada Signature, Premium Economy and Economy cabins, connecting conveniently at its Toronto global hub to a multitude of destinations across North America and Europe.

Air Canada’s London Heathrow Day-tripper – Air Canada’s London Heathrow Day-tripper will operate from Toronto, marking the airline’s fifth daily flight from Toronto to London Heathrow. Popular for its morning departure time from Toronto, the Daytripper enables customers to fly across the Atlantic during the day and arrive in London in the evening without losing a night of sleep. Air Canada’s Daytripper will operate onboard the Airbus A321XLR aircraft featuring

Air Canada Signature and Economy cabins, connecting conveniently at its Toronto global hub to a multitude of destinations across North America.

*subject to government approval

**schedules are subject to change

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC).

- 30 -

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CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release includes forward-looking statements within the meaning of applicable securities laws. Forward-looking statements relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These statements may involve, but are not limited to, comments relating to guidance, strategies, expectations, planned operations or future actions. Forward-looking statements are identified using terms and phrases such as "preliminary"; "anticipate"; "believe"; "could"; "estimate"; "expect"; "intend"; "may"; "plan"; "predict"; "project"; "will"; "would"; and similar terms and phrases, including references to assumptions.

Forward-looking statements, by their nature, are based on assumptions including those described herein and are subject to important risks and uncertainties, which are amplified in the current environment. Forward-looking statements cannot be relied upon due to, among other things, changing external events and general uncertainties of the business of Air Canada. Actual results may differ materially from results indicated in forward-looking statements due to a number of factors, including those discussed below.

Factors that may cause results to differ materially from results indicated in forward-looking statements include economic conditions, statements or actions by governments and uncertainty relating to the imposition of (or threats to impose) tariffs on Canadian exports or imports and their resulting impacts on the Canadian, North American and global economies and travel demand, geopolitical conditions such as the military conflicts in the Middle East and between Russia and Ukraine, Air Canada’s ability to successfully achieve or sustain positive net profitability, industry and market conditions and the demand environment, competition, Air Canada’s dependence on technology, cybersecurity risks, interruptions of service, climate change and environmental factors (including weather systems and other natural phenomena and factors arising from anthropogenic sources), Air Canada’s dependence on key suppliers (including government agencies and other stakeholders supporting airport and airline operations), employee and labour relations and costs, Air Canada’s ability to successfully implement appropriate strategic and other important initiatives (including Air Canada’s ability to manage operating costs), energy prices, Air Canada’s ability to pay its indebtedness and maintain or increase liquidity, Air Canada’s dependence on regional and other carriers, Air Canada’s ability to attract and retain required personnel, epidemic diseases, changes in laws, regulatory developments or proceedings, terrorist acts, war, Air Canada’s ability to successfully operate its loyalty program, casualty losses, Air Canada’s dependence on Star Alliance® and joint ventures, Air Canada’s ability to preserve and grow its brand, pending and future litigation and actions by third parties, currency exchange fluctuations, limitations due to restrictive covenants, insurance issues and costs, and pension plan obligations as well as the factors identified in Air Canada’s public disclosure file available at www.sedarplus.ca and, in particular, those identified in section 18 “Risk Factors” of Air Canada’s 2025 MD&A.

Air Canada has and continues to establish targets, make commitments and assess the impact regarding climate change, and related initiatives, plans and proposals that Air Canada and other stakeholders (including government, regulatory and other bodies) are pursuing in relation to climate change and carbon emissions. The achievement of our commitments and targets depends on many factors, including the combined actions of governments, industry, suppliers and other stakeholders and actors, as well as the development and implementation of new technologies. In particular, our 2030 carbon emission-related targets and our related 2050 aspiration are ambitious and heavily dependent on new technologies, renewable energies and the availability of a sufficient supply of sustainable aviation fuels (SAF), which continues to present serious challenges. In addition, Air Canada has incurred, and expects to continue to incur, costs to achieve its goal of net-zero carbon emissions and to comply with environmental sustainability legislation and regulation and other standards and accords. The precise nature of future binding or non-binding legislation, regulation, standards and accords, on which local and international stakeholders are increasingly focusing, cannot be predicted with any degree of certainty, nor can their financial, operational or other impact. There can be no assurance of the extent to which any of our climate goals will be achieved or that any future investments that we make in furtherance of achieving our climate goals will produce the expected results or meet increasing stakeholder environmental, social and governance expectations. Moreover, future events could lead Air Canada to prioritize other nearer-term interests over progressing toward our current climate goals based on business strategy, economic, regulatory and social factors, and potential pressure from investors, activist groups or other stakeholders. If we are unable to meet or properly report on our progress toward achieving our climate change goals and commitments, we could face adverse publicity and reactions from investors, customers, advocacy groups or other stakeholders, which could result in reputational harm or other adverse effects to Air Canada.

The forward-looking statements contained or incorporated by reference in this news release represent Air Canada's expectations as of the date of this news release (or as of the date they are otherwise stated to be made) and are subject to change after such date. However, Air Canada disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required under applicable securities regulations.

• New Vancouver to Guangzhou, China* year-round service
• New Toronto to Oslo*, Norway; Shannon, Ireland; Nice, France
• New Montréal to Basel, Switzerland; Dubrovnik, Croatia
• Toronto to London Heathrow Day-tripper returns; Toronto to Shanghai increases to daily; new Toronto to Guatemala City flights to operate year-round
• Extending Montréal to Tenerife, Lima and Guatemala City flights to year-round
  
  

MONTRÉAL, Sept. 03, 2026 (GLOBE NEWSWIRE) -- Air Canada today announced a significant expansion of its global network in Summer 2027 with the addition of five new international destinations and seven new routes, along with increased schedules on key markets.

From its Vancouver trans-Pacific hub, Air Canada will be launching year-round services to Guangzhou*, China. From its Toronto global hub, Air Canada will begin service to Oslo*, Norway; Shannon, Ireland; and Nice, France, while resuming the London Heathrow Daytripper, boosting its Shanghai flights to daily, and its new Guatemala City flights that begin this December will be year-round. From its Montréal trans-Atlantic hub, Air Canada will launch services to Basel, Switzerland; and Dubrovnik, Croatia, while its Tenerife, Lima and Guatemala City flights will extend to year-round.

These routes support Air Canada's long-term growth strategy that is expected to create more than 1,500 additional direct jobs by 2028, while growing the airline’s GDP contribution in Canada by over $7 billion per year.

“Summer 2027 marks the most extensive intercontinental expansion in Air Canada’s history, cementing our position as the second largest North American carrier by global destinations served. As Canada’s flag carrier, we are further investing to better connect and position our country as an important intersection of major international demand flows under our New Frontiers strategy. From the expansive trade hub in the Pearl River Delta to the relaxing Adriatic coastline, each of our five new destinations and many schedule enhancements support commerce and tourism and create exciting new opportunities for people to explore the world,” said Mark Galardo, Executive Vice President & Chief Commercial Officer, and President, Cargo at Air Canada.

“Overall, our schedule reflects our commitment to championing Canada around the world, leveraging the opportunities enabled by a growing, next-generation fleet of Airbus A321XLR and wide-body aircraft, the far-reaching networks we have built at our three Canadian hubs, and the continued loyalty of our customers and Aeroplan Members. Importantly, our strategy and growth support jobs and trade, connects people and bridges the six inhabited continents via Canada. With more new aircraft arriving shortly, expect even more exciting network announcements and details regarding our initial Boeing 787-10 operations from Air Canada in the coming months,” concluded Mr. Galardo.

For summer 2027, Air Canada plans to operate more than 125 international routes, representing up to 169,000 seats weekly from Canada to more than 85 international destinations across the Atlantic, Pacific, Mexico, the Caribbean, Central and South America. This represents a more than eight per cent increase in available seat miles in these regions over summer 2026.

Comments from Stakeholders

“Every new international route added reinforces Canada’s role as a global gateway and strengthens the connections that help build a strong Canada. Expanded connectivity gives Canadian travellers greater access to the world, helps our businesses reach new markets, and brings more visitors to communities across the country. New routes deepen Canada’s ties abroad and create real opportunities here at home,” said The Honourable Steven MacKinnon, Minister of Transport and Leader of the Government in the House of Commons.

“Our government recently visited Guangzhou as part of our work to diversify trade around the world and promoted our strengths – our world-class ports and airports, clean energy and abundant resources. This new direct flight makes it faster and easier to do business with one of China’s largest economic hubs, helping to strengthen the economic ties between us during a time of global uncertainty,” said B.C. Premier David Eby.

“Air Canada’s further expansion at Toronto Pearson reflects the strength of partnership and Pearson’s position in connecting Canada to the world,” said Deborah Flint, President and CEO of Toronto Pearson. “The airline’s new service to Oslo, Shannon and Nice, along with enhanced connectivity to other key international destinations, strengthens vital links to global markets. Simply put, this gives passengers more choice. As Canada’s largest international hub, Toronto Pearson supports the movement of people, goods and investment that drive economic growth across Ontario and the country. We are excited for this expansion of connectivity that unlocks new opportunities for passengers, businesses and communities.”

“ADM Aéroports de Montréal is delighted to welcome these new routes from Montréal, which further reinforce our airport’s role as a key aviation hub and Québec’s international gateway. Beyond expanding travel options for passengers, the growth of our valued partner’s network will enhance Montréal’s global connectivity and help drive the metropolitan region’s economic and tourism development. ADM is proud to continue working alongside Air Canada to expand its network and strengthen Montréal’s position on the world stage, for the benefit of our entire community,” said Karl Brochu, Vice President, Airport Operations and Air Services Development at ADM.

“As Canada’s Pacific gateway to Asia and beyond, YVR connects our economy to global markets," said Tamara Vrooman, President and CEO of Vancouver International Airport. "Air Canada’s new non-stop service to Guangzhou further strengthens opportunities for our region, building on YVR's role as a key Trans-Pacific hub and the growing demand for travel and trade between Canada, China, and Asia Pacific more broadly."

Air Canada’s New Route Schedules**

Vancouver’s newest link to China’s commercial and culinary hub - Representing Air Canada’s third destination in mainland China, Air Canada is the only North American carrier to serve Guangzhou, capital of Guangdong province in the Pearl River Delta, a leading region for manufacturing and high-tech innovation in China. Air Canada is the leading carrier between Canada and mainland China, with up to 24 weekly frequencies to Beijing, Shanghai and Guangzhou. Flights to Guangzhou will operate onboard the airline’s Boeing 787 Dreamliner fleet featuring Air Canada Signature, Premium Economy and Economy cabins, and will connect conveniently at its Vancouver trans-Pacific hub to a multitude of destinations across North America.

Toronto to Norway’s Viking fjords - Air Canada is a leading North America airline in Scandinavia serving three destinations, Oslo, Stockholm and Copenhagen, and is the only North American airline with non-stop flights to Norway. Air Canada’s Oslo flights will be operated onboard its new Airbus A321XLR fleet featuring two cabins including the premium Air Canada Signature cabin with lie-flat seats. Flights have been scheduled to connect conveniently at its Toronto global hub to a multitude of destinations across North America.

Toronto to Shannon and the Wild Atlantic Way - Shannon represents Air Canada’s second destination in Ireland, complementing the airline’s long-standing services to Dublin. Air Canada is the only airline to offer non-stop service between Canada and Shannon, home of Ireland’s renowned, magnificent west coast. Air Canada’s Shannon flights will be operated onboard its new Airbus A321XLR fleet featuring two cabins including the premium Air Canada Signature cabin with lie-flat seats. Flights have been scheduled to connect conveniently at its Toronto global hub to a multitude of destinations across North America.

Toronto to the French Riviera - Air Canada is the only airline with non-stop service linking Toronto to Nice, and these services complement the airline’s long-standing Montréal-Nice services for a combined daily service to France’s top summer vacation spot and one of Europe’s leading beach destinations. Air Canada’s Toronto-Nice flights will be operated onboard its Airbus A330-300 fleet featuring Air Canada Signature, Premium Economy and Economy cabins, connecting convenient at its Toronto global hub to a multitude of destinations across North America.

Montréal to Basel and the heart of Europe - Air Canada is the only Canadian carrier with a premium lie-flat business product to serve Basel, a city with banking and pharmaceutical industries with proximity to France, located on the banks of the Rhine River. Air Canada is the only North American airline to serve all three major cities in Switzerland: Zurich, Geneva and Basel. Air Canada’s Basel flights will be operated onboard its new Airbus A321XLR fleet featuring two cabins including the premium Air Canada Signature cabin with lie-flat seats. Flights have been scheduled to connect conveniently at its Montréal trans-Atlantic hub to a multitude of destinations across North America.

Montréal to the Pearl of the Adriatic coast - Air Canada will be the only Canadian carrier with a premium, lie-flat business class product to Dubrovnik and the Croatian Riviera, known as the Pearl of the Adriatic for its renowned coastline and archipelagoes, Montenegro and the Bay of Kotor. With strong premium leisure travel demand, Air Canada’s flights will be operated onboard its Boeing 787 Dreamliners featuring Signature, Premium Economy and Economy cabins.
Air Canada’s Dubrovnik flights will connect at its Montréal trans-Atlantic hub to a multitude of destinations across North America.

Flights are now available for purchase at aircanada.com, through Air Canada Contact Centres and via travel agents.

*subject to government approvals
**schedules are subject to change

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC).

Contacts:        media@aircanada.ca

Internet:        aircanada.com/media

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CAUTION REGARDING FORWARD-LOOKING INFORMATION 

This news release includes forward-looking statements within the meaning of applicable securities laws. Forward-looking statements relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These statements may involve, but are not limited to, comments relating to guidance, strategies, expectations, planned operations or future actions. Forward-looking statements are identified using terms and phrases such as "preliminary"; "anticipate"; "believe"; "could"; "estimate"; "expect"; "intend"; "may"; "plan"; "predict"; "project"; "will"; "would"; and similar terms and phrases, including references to assumptions. 

Forward-looking statements, by their nature, are based on assumptions including those described herein and are subject to important risks and uncertainties, which are amplified in the current environment. Forward-looking statements cannot be relied upon due to, among other things, changing external events and general uncertainties of the business of Air Canada. Actual results may differ materially from results indicated in forward-looking statements due to a number of factors, including those discussed below. 

Factors that may cause results to differ materially from results indicated in forward-looking statements include economic conditions, statements or actions by governments and uncertainty relating to the imposition of (or threats to impose) tariffs on Canadian exports or imports and their resulting impacts on the Canadian, North American and global economies and travel demand, geopolitical conditions such as the military conflicts in the Middle East and between Russia and Ukraine, Air Canada’s ability to successfully achieve or sustain positive net profitability, industry and market conditions and the demand environment, competition, Air Canada’s dependence on technology, cybersecurity risks, interruptions of service, climate change and environmental factors (including weather systems and other natural phenomena and factors arising from anthropogenic sources), Air Canada’s dependence on key suppliers (including government agencies and other stakeholders supporting airport and airline operations), employee and labour relations and costs, Air Canada’s ability to successfully implement appropriate strategic and other important initiatives (including Air Canada’s ability to manage operating costs), energy prices, Air Canada’s ability to pay its indebtedness and maintain or increase liquidity, Air Canada’s dependence on regional and other carriers, Air Canada’s ability to attract and retain required personnel, epidemic diseases, changes in laws, regulatory developments or proceedings, terrorist acts, war, Air Canada’s ability to successfully operate its loyalty program, casualty losses, Air Canada’s dependence on Star Alliance® and joint ventures, Air Canada’s ability to preserve and grow its brand, pending and future litigation and actions by third parties, currency exchange fluctuations, limitations due to restrictive covenants, insurance issues and costs, and pension plan obligations as well as the factors identified in Air Canada’s public disclosure file available at www.sedarplus.ca and, in particular, those identified in section 18 “Risk Factors” of Air Canada’s 2025 MD&A. 

Air Canada has and continues to establish targets, make commitments and assess the impact regarding climate change, and related initiatives, plans and proposals that Air Canada and other stakeholders (including government, regulatory and other bodies) are pursuing in relation to climate change and carbon emissions. The achievement of our commitments and targets depends on many factors, including the combined actions of governments, industry, suppliers and other stakeholders and actors, as well as the development and implementation of new technologies. In particular, our 2030 carbon emission-related targets and our related 2050 aspiration are ambitious and heavily dependent on new technologies, renewable energies and the availability of a sufficient supply of sustainable aviation fuels (SAF), which continues to present serious challenges. In addition, Air Canada has incurred, and expects to continue to incur, costs to achieve its goal of net-zero carbon emissions and to comply with environmental sustainability legislation and regulation and other standards and accords. The precise nature of future binding or non-binding legislation, regulation, standards and accords, on which local and international stakeholders are increasingly focusing, cannot be predicted with any degree of certainty, nor can their financial, operational or other impact. There can be no assurance of the extent to which any of our climate goals will be achieved or that any future investments that we make in furtherance of achieving our climate goals will produce the expected results or meet increasing stakeholder environmental, social and governance expectations. Moreover, future events could lead Air Canada to prioritize other nearer-term interests over progressing toward our current climate goals based on business strategy, economic, regulatory and social factors, and potential pressure from investors, activist groups or other stakeholders. If we are unable to meet or properly report on our progress toward achieving our climate change goals and commitments, we could face adverse publicity and reactions from investors, customers, advocacy groups or other stakeholders, which could result in reputational harm or other adverse effects to Air Canada. 

The forward-looking statements contained or incorporated by reference in this news release represent Air Canada's expectations as of the date of this news release (or as of the date they are otherwise stated to be made) and are subject to change after such date. However, Air Canada disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required under applicable securities regulations. 

MONTRÉAL, Sept. 01, 2026 (GLOBE NEWSWIRE) -- Calling all travel sleuths and internet detectives! Air Canada has just dropped the ultimate travel puzzle ahead of its major Summer 2027 network expansion reveal on September 3. Starting today, the airline is giving customers a head start with a brand new trailer video packed with hidden easter eggs hinting at Air Canada’s newest travel destinations.

The best part? Customers who spot the clues and guess the destinations before September 3, could win a trip for two anywhere Air Canada flies.* Let the countdown begin! Share your best guesses here.

*Contest rules apply. Click here for full contest rules and regulations. Contest runs from September 1, 2026 12:01 AM ET until September 4, 2026 11:59 PM ET

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC).

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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6bea55cf-a6f1-4491-8fa2-134946cacf8b

A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d86c94e8-015f-4bc6-bac6-6be7f465aa7f

• Customers can now travel complimentary with up to three mobility aids
• New policy gives customers greater flexibility and consistency when travelling with mobility aids for work, leisure and adapted sport
• Customers can track loading and unloading status of mobility aid via the Air Canada app for peace of mind

MONTRÉAL, Aug. 28, 2026 (GLOBE NEWSWIRE) -- Air Canada today announced a new mobility aid travel policy designed to make travel simpler, more consistent and less stressful for customers who travel with mobility aids, including customers participating in adapted sports.

The new policy gives customers requiring the use of mobility aids, or travelling with adaptive sports equipment greater flexibility in bringing the items they need when they fly with Air Canada. It reflects the airline’s ongoing work to identify, remove and prevent barriers for customers with disabilities, and to provide a more dignified and predictable travel experience at every stage of the journey.

“Travelling with a mobility aid can involve significant planning, and we recognize the uncertainty customers may feel when they are separated from equipment that is essential to their independence,” said Kerianne Wilson, Director, Customer Accessibility at Air Canada. “This new policy is about giving customers more consistent choices, clearer expectations and greater confidence when they travel with us. It also reflects our commitment to listening to people with lived experience and continuing to improve accessibility across the travel journey.”

Highlights of the new policy include:

• Customers can now travel complimentary with up to three mobility aids.
• Eligible items can include any combination of personal mobility aids, adaptive sports equipment, or personal or patient lift, or similar transfer devices.
• The policy supports both adaptive athletes and recreational travellers with disabilities, helping remove barriers to participation in sport and leisure travel.
• If a mobility aid is too large to travel on the same aircraft as the customer, Air Canada Cargo will complimentarily transport it within Canada.
• The enhanced policy reflects Air Canada's ongoing commitment to improving accessibility and creating an inclusive travel experience for customers with disabilities.

The policy supports customers with varied travel needs, including those travelling for business, leisure, medical reasons or adapted sport. It is intended to reduce uncertainty across different parts of the travel journey by providing a more consistent approach to how mobility aids are accommodated, handled and supported.

“Having this policy clearly defined means people with disabilities can travel, without having to explain or justify our needs. As both a traveller with a disability and a Para athlete, it is meaningful to see Air Canada recognize that the equipment we travel with, whether it supports daily life, care needs or participation in sport, are extensions of our bodies, not an extra piece of luggage,” said Meghan Hines, chair of Air Canada’s Accessibility Advisory Committee. “This policy recognizes that accessibility needs do not look the same for everyone and that people with disabilities should be able to travel with the equipment they need without added uncertainty or having to advocate for an exception.”

“Air Canada continues to take meaningful steps to make travel more accessible, and this new policy will make a significant difference in making travel easier and more affordable for athletes at all levels of sport, from recreation to high-performance," said Rachael Pinnock, Chief Commercial and Impact Officer, Canadian Paralympic Committee. "This is a testament to Air Canada’s commitment to listening and learning from the experiences and perspectives of the Para sport community, and it is incredibly exciting to see those insights reflected in practical changes that will improve access to sport and travel. We are grateful for Air Canada’s ongoing partnership and their commitment to advancing accessibility.”

More information can be found on Air Canada’s website here.

Air Canada has continued to advance accessibility as part of its broader Accessibility Plan, which outlines initiatives to improve the experience of customers who use power wheelchairs and other mobility aids, including better flight options, digital tracking and notifications, improved availability of accessibility equipment, enhanced boarding and transfer support, and continued collaboration with accessibility partners, airports, regulators, aircraft manufacturers and mobility aid manufacturers.

The airline has also developed a mobility aid tracking feature in the Air Canada app, giving customers peace of mind by allowing them to confirm their mobility aid has been loaded on their flight. In addition, Air Canada has reviewed operational procedures for handling mobility aids, invested in specialized lift equipment at airports across Canada, and continues to provide training to employees on safely and respectfully supporting customers with disabilities.

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC).

Contacts:       media@aircanada.ca

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• Delivered record second-quarter operating revenues of $6.3 billion, driven by strong demand across the network
• Reported an adjusted EBITDA of $719 million, at the top end of the second-quarter guidance range, and an operating loss of $215 million, including $388 million of labour-related and other charges
• Generated $651 million in net cash flows from operating activities and $174 million in free cash flow*
• Deployed $125 million in the quarter to repurchase over six million shares
• Reinstated and updated full-year 2026 guidance, including adjusted EBITDA of $2.9 billion to $3.2 billion
   

MONTRÉAL, Aug. 11, 2026 (GLOBE NEWSWIRE) -- Air Canada today reported its second quarter 2026 financial results and provided updated full-year 2026 financial guidance.

“Air Canada delivered record second-quarter operating revenues, up 11 per cent year over year, supported by strong demand across our network, including continued strength in premium and corporate travel, as well as Sixth Freedom traffic. Capacity increased 0.3 per cent year over year, 0.2 percentage points below the lower end of our second quarter guidance mainly due to weather-related disruptions that negatively affected flight completion rates in the latter part of the quarter. Adjusted EBITDA reached $719 million, at the top end of our second quarter guidance range, despite a 49 per cent year-over-year increase in fuel expense. The performance in the quarter reflected the benefits of our diversified sources of revenue, the effectiveness of our pricing actions, and our continued focus on controllable cost execution. It especially underscores the dedication and professionalism of our employees, whom I thank for their unwavering commitment to serving our customers with excellence,” said Michael Rousseau, President and Chief Executive Officer.

“Cash generation and balance sheet strength remain key anchors of Air Canada’s financial foundation. In the quarter, we generated $651 million in net cash flows from operating activities and $174 million in free cash flow, fuelling our ability to invest in the business and return capital to shareholders. In the quarter, we deployed $125 million for share repurchases and maintained our leverage ratio* at 1.7.

“Looking ahead, we are reinstating and updating full-year 2026 guidance, supported by resilient demand for premium and corporate travel, our fare actions to mitigate fuel-price volatility and our disciplined cost management. Reflecting the progress we have made in strengthening our financial position, we believe an investment grade rating is achievable in the mid-term. Beyond 2026, with Anko van der Werff announced as my successor, I am confident Air Canada has leadership continuity, a clear strategy and the financial strength to continue driving its long-term objectives and create significant sustainable value for all stakeholders,” concluded Mr. Rousseau.

^{*Adjusted CASM, adjusted EBITDA (earnings before interest, taxes, depreciation, amortization and impairment), adjusted EBITDA margin, leverage ratio, net debt, adjusted pre-tax income (loss), adjusted net income (loss), adjusted earnings (loss) per share – diluted, and free cash flow are referred to in this news release. Such measures are non-GAAP financial measures, non-GAAP ratios or supplementary financial measures, are not recognized measures for financial statement presentation under GAAP, do not have standardized meanings, may not be comparable to similar measures presented by other entities and should not be considered a substitute for or superior to GAAP results. Leverage ratio of 1.4 at June 30, 2025. Adjusted EBITDA and operating income for the trailing 12-month period ended June 30, 2026 were $3.170 billion and $510 million, respectively ($3.515 billion and $1.096 billion, respectively for the trailing 12-month period ended June 30, 2025). Refer to the "Non-GAAP Financial Measures" section of this news release for descriptions of these measures and for a reconciliation of Air Canada non-GAAP measures used in this news release to the most comparable GAAP financial measure.}

Second Quarter 2026 Financial Results

• Operating revenues of $6.266 billion

• Operating expenses of $6.481 billion

• Operating loss of $215 million with an operating margin of (3.4)% and an adjusted EBITDA* of $719 million with an adjusted EBITDA margin* of 11.5%

• Loss before income taxes of $316 million and adjusted pre-tax income* of $77 million

• Net loss of $178 million and diluted loss per share of $0.63

• Adjusted net income* of $114 million and adjusted earnings per diluted share* of $0.40

• Adjusted CASM* of 15.47 cents

• Net cash flows from operating activities of $651 million and free cash flow of $174 million

• Long-term debt and lease liabilities of $12.794 billion and a net leverage ratio* of 1.7
  
   

Outlook

Air Canada is reinstating updated financial guidance for full-year 2026 as follows:

*Refer to the “Non-GAAP Financial Measures” section of this news release for descriptions of these measures, and for a reconciliation of Air Canada non-GAAP measures used in this news release to the most comparable GAAP financial measure.

Major Assumptions

Air Canada made assumptions in providing its guidance, including a modest Canadian GDP growth for 2026 and current demand trends continuing through the third quarter and remainder of 2026. Air Canada assumes that the Canadian dollar will trade, on average, at C$1.41 per U.S. dollar for the full year 2026 (previously C$1.36 per U.S. dollar). Air Canada also assumes that the price of jet fuel will average at approximately C$1.38 per litre for the third quarter of 2026 and C$1.29 per litre for the fourth quarter of 2026 (previously an average of C$0.90 per litre for the full year 2026). Our assumptions are based on the forward curve as of July 29, 2026, adjusted to reflect Air Canada's specific supply chain environment, including Air Canada's fuel infrastructure at Canadian hubs, where fuel is typically contracted and received on a one- to two-month forward basis, as well as pricing exposure at international station locations. These jet fuel estimates reflect Air Canada’s capacity plans and remain subject to ongoing volatility in global energy markets.

Air Canada expects it can offset, for the third quarter of 2026, approximately 60 per cent of the estimated incremental jet fuel expense above its assumptions immediately prior to February 12, 2026, which includes the expected hedging gains in the third quarter, and 100% for the fourth quarter of 2026.

Air Canada has entered into non-binding letters for up to $2 billion in sale and leaseback transactions scheduled to close in 2026 and 2027, subject to the execution of definitive and binding agreements and completion of standard conditions precedent. As part of the assumptions for 2026 guidance, Air Canada has assumed execution on its sale-leaseback transactions for $1 billion in 2026.

Air Canada’s guidance constitutes forward-looking information within the meaning of applicable securities laws and is subject to important risks and uncertainties, including in relation to statements or actions by governments and uncertainty relating to the imposition of (or threats to impose) tariffs on Canadian exports or imports and their resulting impacts on the Canadian, North American and global economies and travel demand. In addition, aircraft fuel prices have been, and continue to be, subject to high volatility as a result of the ongoing conflicts in the Middle East. Moreover, there has been significant disruption to international shipping trade routes through the Strait of Hormuz, further exacerbating the impact on fuel supply and prices, including for aircraft fuel. A prolonged or escalating conflict could further disrupt global energy markets and cause aircraft fuel prices to remain elevated or rise even higher. We cannot predict future supply constraints, price volatility or cost of aircraft fuel, or how long current or future conflicts will last or their ultimate impact on global energy markets and across the aviation industry. Please see the discussion below under Caution Regarding Forward-looking Information.

2028 targets and 2030 aspirations

Air Canada announced the following long-term 2028 financial targets and 2030 aspirations in December 2024:

^{*Adjusted EBITDA (earnings before interest, taxes, depreciation, amortization and impairment), adjusted EBITDA margin, net cash flows from operating activities as a percentage of adjusted EBITDA, additions to property, equipment and intangible assets as a percentage of operating revenues, free cash flow margin and return on invested capital are referred to in this news release. Such measures are non-GAAP financial measures, non-GAAP ratios or supplementary financial measures, are not recognized measures for financial statement presentation under GAAP, do not have standardized meanings, may not be comparable to similar measures presented by other entities and should not be considered a substitute for or superior to GAAP results. Refer to the "Non-GAAP Financial Measures" section of this news release for descriptions of these measures and for a reconciliation of Air Canada non-GAAP measures used in this news release to the most comparable GAAP financial measure.}

The 2028 long-term targets and 2030 aspirations provided in this news release do not constitute guidance or outlook but rather are provided for the purpose of assisting the reader in measuring progress toward Air Canada’s objectives. Readers are cautioned that these targets and aspirations may change as conditions evolve and are referred to the assumptions, risks and uncertainties described in the 2024 Investor Day presentations, which are available in the events section at aircanada.com/investors and elsewhere in this news release, including assumptions relating to demand trends, jet fuel supply, prices and forward curves, the ability to significantly recapture elevated fuel prices, increasing revenues, growing fleet and network capacity and successfully executing on other key investments and initiatives.

Non-GAAP Financial Measures

Below is a description of certain non-GAAP financial measures and ratios used by Air Canada to provide readers with additional information on its financial and operating performance. Such measures are not recognized measures for financial statement presentation under GAAP, do not have standardized meanings, may not be comparable to similar measures presented by other entities and should not be considered a substitute for or superior to GAAP results. The non-GAAP financial measures or ratios described in this section typically have exclusions or adjustments that include one or more of the following characteristics: being highly variable, difficult to project, unusual in nature, significant to the results of a particular period or not indicative of past or future operating results. These items are excluded because Air Canada believes these may distort the analysis of certain business trends and render comparative analysis across periods less meaningful and their exclusion generally allows for a more meaningful analysis of Air Canada’s operating expense performance and may allow for a more meaningful comparison to other airlines.

In the second quarter of 2026, Air Canada concluded a four-year collective agreement with Unifor and recorded a pension past service cost of $132 million related to pension plan amendments in relation to this agreement. Air Canada also recorded a $208 million charge related to pensioner lump sum payments and voluntary separation packages following the completion, in April 2026, of this agreement, allowing proceeds from the sale of shares held in the union pension funding trust to be used for these purposes. Air Canada also recorded a $20 million benefits-related past service cost and a $28 million provision in respect of a legal matter. These items were excluded in the calculation of adjusted CASM, adjusted EBITDA, adjusted pre-tax income and adjusted net income. Additionally, a related $41 million interest expense associated with a legal matter was excluded from adjusted pre-tax income and adjusted net income.

In 2025, Air Canada recorded a one-time pension past service cost and other labour-related charges of $194 million, including from the pension plan amendments made in conjunction with the collective agreement reached with the Canadian Union of Public Employees (CUPE) and an operating expense related to the streamlining of Air Canada’s management structure. In 2024, with ratification of the collective agreement with the Air Line Pilots Association (ALPA), Air Canada recorded a pension past service cost of $490 million in the fourth quarter of 2024. Air Canada has excluded these charges in computing its adjusted EBITDA, adjusted CASM, adjusted pre-tax income and adjusted net income.

A charge of $34 million was recorded in the third quarter of 2024 in other operating expenses related to estimated costs associated with contractual lease obligations. Air Canada excluded this expense in computing adjusted CASM, adjusted EBITDA, adjusted pre-tax income and adjusted net income.

Air Canada excludes the effect of impairment of assets, if any, when calculating adjusted CASM, adjusted EBITDA, adjusted EBITDA margin, adjusted pre-tax income (loss) and adjusted net income (loss) as it may distort the analysis of certain business trends and render comparative analysis across periods or to other airlines less meaningful. Air Canada did not record charges for impairment of assets in 2026, 2025 or 2024.

Adjusted CASM

Air Canada uses adjusted CASM to assess the operating and cost performance of its ongoing airline business without the effects of aircraft fuel expense, the cost of ground packages at Air Canada Vacations, freighter costs and other items. These items may distort the analysis of certain business trends and render comparative analysis across periods less meaningful and their exclusion generally allows for a more meaningful analysis of Air Canada’s operating expense performance and may allow for a more meaningful comparison to that of other airlines.

In calculating adjusted CASM, aircraft fuel expense is excluded from operating expense results as it fluctuates widely depending on many factors, including international market conditions, geopolitical events, jet fuel refining costs and Canada/U.S. currency exchange rates. Air Canada also incurs expenses related to ground packages at Air Canada Vacations, which some airlines, without comparable tour operator businesses, may not incur. In addition, these costs do not generate ASMs and therefore excluding these costs from operating expense results provides for a more meaningful comparison across periods when such costs may vary.

Air Canada also incurs expenses related to the operation of freighter aircraft, which some airlines, without comparable cargo businesses, may not incur. Air Canada had six Boeing 767 dedicated freighter aircraft in service as at June 30, 2026, and as at June 30, 2025. These costs do not generate ASMs and therefore excluding these costs from operating expense results provides for a more meaningful comparison of the passenger airline business across periods.

The following tables provide the adjusted CASM reconciliation to GAAP operating expense for the periods indicated.

Adjusted EBITDA and Adjusted EBITDA Margin

Adjusted EBITDA (earnings before interest, taxes, depreciation, amortization and impairment) and adjusted EBITDA margin (adjusted EBITDA as a percentage of operating revenues) are commonly used in the airline industry and are used by Air Canada as a means to view operating results and the related margin before interest, taxes, depreciation, amortization and impairment and other items. These items can vary significantly among airlines due to differences in the way airlines finance their aircraft and other assets.

Adjusted EBITDA and adjusted EBITDA margin are reconciled to GAAP operating income as follows:

Adjusted Pre-tax Income (Loss)

Adjusted pre-tax income (loss) is used by Air Canada to assess the overall pre-tax financial performance of its business without the effects of foreign exchange gains or losses, net interest relating to employee benefits, gains or losses on financial instruments recorded at fair value, gains or losses on sale and leaseback of assets, gains or losses on disposal of assets, gains or losses on debt settlements and modifications and other items discussed above. These items may distort the analysis of certain business trends and render comparative analysis across periods or to other airlines less meaningful.

Adjusted pre-tax income is reconciled to GAAP income before income taxes as follows:

Adjusted Net Income (Loss) and Adjusted Earnings (Loss) Per Share – Diluted

Air Canada uses adjusted net income (loss) and adjusted earnings (loss) per share – diluted as a means to assess the overall financial performance of its business without the after-tax effects of foreign exchange gains or losses, net financing expense relating to employee benefits, gains or losses on financial instruments recorded at fair value, gains or losses on sale and leaseback of assets, gains or losses on debt settlements and modifications, gains or losses on disposal of assets and other items discussed above. These items may distort the analysis of certain business trends and render comparative analysis to other airlines less meaningful.

Adjusted net income and adjusted earnings per share – diluted are reconciled to GAAP net income as follows:

The table below reflects the share amounts used in the computation of basic and diluted earnings per share on an adjusted earnings per share basis:

Free Cash Flow

Air Canada uses free cash flow as an indicator of the financial strength and performance of its business, indicating the amount of cash Air Canada can generate from operations and after capital expenditures. Free cash flow is calculated as net cash flows from operating activities minus additions to property, equipment and intangible assets, and it is net of proceeds from sale and leaseback transactions.

The table below reconciles free cash flow to net cash flows from operating activities for the periods indicated.

Net Debt

Net debt is a capital management measure and a key component of the capital managed by Air Canada and provides management with a measure of its net indebtedness.

Net Debt to Trailing 12-Month Adjusted EBITDA (Leverage Ratio)

Net debt to trailing 12-month adjusted EBITDA ratio (also referred to as “leverage ratio”) is commonly used in the airline industry and is used by Air Canada as a means to measure financial leverage. Leverage ratio is calculated by dividing net debt by trailing 12-month adjusted EBITDA.

The table below reconciles leverage ratio to Air Canada’s net debt balances as at the dates indicated.

The table below presents comparative figures for the 12-month periods ending December 31, 2024 and 2025, in reference to Air Canada's full-year 2026 guidance, 2028 financial targets and 2030 aspirations.

_{¹Percentage amounts in the table above may not calculate exactly due to rounding.}

Net cash flows from operating activities as a percentage of adjusted EBITDA

Air Canada uses net cash flows from operating activities as a percentage of adjusted EBITDA to measure cash conversion from adjusted EBITDA. This measure is defined as the ratio of net cash flows from operating activities to adjusted EBITDA.

Additions to property, equipment and intangible assets as a percentage of operating revenues

Air Canada uses additions to property, equipment and intangible assets as a percentage of operating revenues to measure the proportion of operating revenues that are reinvested as capital expenditures. This measure is defined as the ratio of additions to property, equipment and intangible assets to operating revenues.

Free cash flow margin

Air Canada uses free cash flow margin to measure the amount its free cash flow represents as a percentage of operating revenues. This measure is defined as the ratio of free cash flow to operating revenues.

The table below presents the quantitative reconciliation for adjusted EBITDA, adjusted EBITDA margin, net cash flows from operating activities as a percentage of adjusted EBITDA, additions to property, equipment and intangible assets as a percentage of operating revenues, free cash flow and free cash flow margin, in each case for the financial years ended December 31, 2025 and 2024.

Return on invested capital

Air Canada uses return on invested capital (ROIC) to assess the efficiency with which it allocates its capital to generate returns. ROIC is calculated as the ratio of adjusted pre-tax income (loss), excluding interest expense, to invested capital. Invested capital includes average year-over-year long-term debt and lease obligations, average year-over-year shareholders' equity and the embedded derivative on Air Canada's convertible notes. In 2020, Air Canada issued convertible unsecured notes. Air Canada had the option to deliver cash or a combination of cash and shares on the conversion date in lieu of shares, giving rise to an embedded derivative that was included as part of the definition of capital. Air Canada calculates invested capital on a book value-based method when calculating ROIC.

Return on invested capital is reconciled to GAAP income (loss) before income taxes as follows:

Second Quarter 2026 Conference Call

Air Canada will host its quarterly analysts’ call on Wednesday, August 12, 2026, at 8 a.m. ET. Michael Rousseau, President and Chief Executive Officer, John Di Bert, Executive Vice President and Chief Financial Officer, and Mark Galardo, Executive Vice President and Chief Commercial Officer and President, Cargo, will present the results and be available for analysts' questions. Immediately following the analysts' Q&A session, Mr. Di Bert and Pierre Houle, Vice President and Treasurer, will be available to answer questions from term loan B lenders and holders of Air Canada bonds.

Media and the public may access this call on a listen-only basis. Webcast details are as follows: 
https://edge.media-server.com/mmc/p/5vxkq96v

CAUTION REGARDING FORWARD-LOOKING INFORMATION 

This news release includes forward-looking statements within the meaning of applicable securities laws. Forward-looking statements relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These statements may involve, but are not limited to, comments relating to strategies, expectations, ratings, planned operations or future actions or to Air Canada's full year 2026 guidance, 2028 financial targets and 2030 aspirations. Forward-looking statements are identified using terms and phrases such as "preliminary"; "anticipate"; "believe"; "could"; "estimate"; "expect"; "intend"; "may"; "plan"; "predict"; "project"; "will"; "would"; and similar terms and phrases, including references to assumptions.

Forward-looking statements, by their nature, are based on assumptions including those described herein and are subject to important risks and uncertainties. Forward-looking statements cannot be relied upon due to, among other things, changing external events and general uncertainties of the business of Air Canada. Actual results may differ materially from results indicated in forward-looking statements due to a number of factors, including those discussed below.

Factors that may cause results to differ materially from results indicated in forward-looking statements include economic conditions, including high or volatile fuel prices or significant disruptions in the supply of aircraft fuel, including as a result of the military conflict in the Middle East, statements or actions by governments and uncertainty relating to the imposition of (or threats to impose) tariffs on Canadian exports or imports and their resulting impacts on the Canadian, North American and global economies and travel demand, geopolitical and security conditions including in relation to the military conflicts in the Middle East and between Russia and Ukraine, Air Canada’s ability to successfully achieve or sustain positive net profitability, industry and market conditions and the demand environment, competition, Air Canada’s dependence on technology, cybersecurity risks, interruptions of service, climate change and environmental factors (including weather systems and other natural phenomena and factors arising from anthropogenic sources), Air Canada’s dependence on key suppliers (including government agencies and other stakeholders supporting airport and airline operations), employee and labour relations and costs, Air Canada’s ability to successfully implement appropriate strategic and other important initiatives (including Air Canada’s ability to manage operating costs), energy prices, Air Canada’s ability to pay its indebtedness and maintain or increase liquidity, Air Canada’s dependence on regional and other carriers, Air Canada’s ability to attract and retain required personnel, epidemic diseases, changes in laws, regulatory developments or proceedings, terrorist acts, war, Air Canada’s ability to successfully operate its loyalty program, casualty losses, Air Canada’s dependence on Star Alliance^® and joint ventures, Air Canada’s ability to preserve and grow its brand, pending and future litigation and actions by third parties, currency exchange fluctuations, limitations due to restrictive covenants, insurance issues and costs and pension plan obligations as well as the factors identified in Air Canada’s public disclosure file available at www.sedarplus.ca and, in particular, those identified in section 14 of Air Canada’s Second Quarter 2026 MD&A and section 18 “Risk Factors” of Air Canada’s 2025 MD&A.

Air Canada has and continues to establish targets, make commitments and assess the impact regarding climate change, and related initiatives, plans and proposals that Air Canada and other stakeholders (including government, regulatory and other bodies) are pursuing in relation to climate change and carbon emissions. The achievement of our commitments and targets depends on many factors, including the combined actions of governments, industry, suppliers and other stakeholders and actors, as well as the development and implementation of new technologies. In particular, our 2030 carbon emission-related targets and our related 2050 aspiration are ambitious and heavily dependent on new technologies, renewable energies and the availability of a sufficient supply of sustainable aviation fuels (SAF), which continues to present serious challenges. In addition, Air Canada has incurred, and expects to continue to incur, costs to achieve its aspirational goal of net-zero carbon emissions and to comply with environmental sustainability legislation and regulation and other standards and accords. The precise nature of future binding or non-binding legislation, regulation, standards and accords, on which local and international stakeholders are increasingly focusing, cannot be predicted with any degree of certainty, nor can their financial, operational or other impact. There can be no assurance of the extent to which any of our climate goals will be achieved or that any future investments that we make in furtherance of achieving our climate goals will produce the expected results or meet increasing stakeholder environmental, social and governance expectations. Moreover, future events could lead Air Canada to prioritize other nearer-term interests over progressing toward our current climate goals based on business strategy, economic, regulatory and social factors, and potential pressure from investors, activist groups or other stakeholders. If we are unable to meet or properly report on our progress toward achieving our climate change goals and commitments, we could face adverse publicity and reactions from investors, customers, advocacy groups or other stakeholders, which could result in reputational harm or other adverse effects to Air Canada.

The forward-looking statements contained or incorporated by reference in this news release represent Air Canada's expectations as of the date of this news release (or as of the date they are otherwise stated to be made) and are subject to change after such date. However, Air Canada disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required under applicable securities regulations.

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Selected Financial Metrics and Statistics

The financial and operating highlights for Air Canada for the periods indicated are as follows:

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MONTRÉAL, Aug. 11, 2026 (GLOBE NEWSWIRE) -- Air Canada today announced that funds managed by Blackstone and La Caisse, together with other leading Canadian institutions, are making a $2.5 billion minority equity investment in Aeroplan Inc. The transaction terms provide that the investor group is acquiring a 25% non-controlling equity interest in Aeroplan, valuing the program at $10 billion.¹

Air Canada will maintain full operational control of Aeroplan and a controlling ownership interest after the minority investment. Aeroplan remains a core part of Air Canada’s commercial strategy and customer value proposition, and the experience of members, partners and employees will be unaffected by the transaction.

Proceeds from this investment will be used toward the repayment of Air Canada’s upcoming US$1.2 billion ($1.7 billion) bond maturity, strengthening Air Canada's balance sheet through a reduction in gross indebtedness without a corresponding reduction in cash and cash equivalents. Most of the balance to be applied to accelerate the share repurchases contemplated in its long-term strategic plan.

The investor group led by Blackstone and La Caisse also includes PSP Investments and British Columbia Investment Management Corporation (BCI).

“This investment highlights Aeroplan as a differentiated loyalty platform and showcases the exceptional value created since its acquisition. The transaction strengthens Air Canada’s financial position by unlocking value from Aeroplan while retaining full operational control. It provides additional financial flexibility, and supports our pursuit of an investment grade rating, as we execute our long-term strategic plan, for the benefit of our customers, employees and investors,” said John Di Bert, Executive Vice President and Chief Financial Officer at Air Canada.

“Air Canada has established Aeroplan as one of Canada’s leading loyalty programs, with strategic partnerships across travel, financial, and commercial sectors. We are pleased to welcome Blackstone, La Caisse and other leading Canadian institutions as minority investors in Aeroplan as we continue to strengthen and expand Aeroplan’s global appeal. Under the new partnership, Air Canada retains full control of the program, meaning partners, members, and employees can all expect full continuity of the program as they do today. Air Canada is committed to remaining the majority owner of Aeroplan, ensuring continued control of the program while positioning it for future growth and value creation,” said Craig Landry, Executive Vice President & Chief Innovation Officer at Air Canada, and President of Aeroplan.

"We are proud to support Air Canada and the leading loyalty platform they’ve built in Aeroplan,” said Mark Rutledge, Senior Managing Director, Blackstone. “Blackstone is a long-term believer in Canada as both a compelling place to invest and serve clients. This transaction adds to our decades-long commitment to the country and is another example of our ability to provide flexible, efficient capital solutions to leading businesses around the world."

“This investment in Aeroplan, one of the country’s leading loyalty programs built by Air Canada, reflects La Caisse's ability to structure tailored capital solutions backed by a strategic asset, alongside a strong group of co-investors," said Martin Longchamps, Executive Vice-President and Head of Private Equity and Private Credit at La Caisse. "It is also an attractive diversification opportunity for our global portfolio, which ultimately benefits our depositors.”

Transaction Details

The investor group is making a $2.5 billion minority equity investment in Aeroplan Inc., acquiring a 25% equity interest in it. Air Canada will retain a 75% ownership interest and continue to control Aeroplan and its operations, strategic direction and day-to-day management. Proceeds from the transaction will primarily allow Air Canada to repay its upcoming US$1.2 billion debt maturity with most of the balance applied to accelerate the share repurchases contemplated in its long-term strategic plan. Settlement of the investment is planned to occur on August 17, 2026.

Financial Reporting, Governance and Ongoing Control

This investment includes customary minority investor rights. Air Canada will retain control of Aeroplan's strategy, operations, and day-to-day management. Air Canada will continue to consolidate Aeroplan in its consolidated financial statements and this investment will be reflected as a non-controlling interest within shareholders' equity.

Distribution Policy and Call Option

The investors will be entitled to participate in distributions from Aeroplan, as and when declared by its board of directors, pursuant to an agreed distribution policy.

Air Canada will also have the right to repurchase the interest held by the investor group in Aeroplan between the fifth and eighth anniversaries of the transaction’s settlement, as well as upon the occurrence of specified events. The repurchase price will be determined pursuant to an agreed formula that provides the investors with an internal rate of return of 6.5% calculated net of all distributions.

Air Canada Announces Substantial Issuer Bid

Air Canada also announced today that it intends to conduct a substantial issuer bid (the “proposed offer”) to purchase for cancellation up to $800 million of its Class A variable voting shares and Class B voting shares (collectively, the “shares”). The terms and pricing of the proposed offer are expected to be determined soon after the planned settlement of the Aeroplan minority investment on August 17, 2026. The proposed offer would thereafter be launched with a view to being completed in September 2026. Air Canada intends to fund the proposed offer with proceeds from the investment in Aeroplan.

The proposed offer will proceed by way of modified Dutch Auction. Once launched, shareholders may tender their shares in response to the proposed offer in one of two ways: (i) an “auction tender" specifying the number of shares tendered and a tender price per share within a range set by Air Canada shortly before the proposed offer commences or (ii) a “purchase price tender" specifying the number of shares tendered, to be sold at the purchase price determined by the auction tender rather than at a specified price. Shareholders who choose not to tender shares or whose tendered shares are not purchased will see their equity interest in Air Canada increase in proportion to the number of shares purchased under the proposed offer. The proposed offer will not be conditional on any minimum number of shares being tendered but will be subject to conditions customary for transactions of this nature.

The contents of this news release relating to the proposed offer are for informational purposes only and do not constitute an offer to buy or the solicitation of an offer to sell Air Canada's shares. The proposed offer has not yet commenced. The solicitation and the offer to buy shares will only be made pursuant to an issuer bid circular, which will contain the details of the proposed offer and will be filed with Canadian securities regulatory authorities and sent through notice-and-access to Air Canada’s shareholders in accordance with applicable legal requirements.

Advisors

BofA Securities, Stikeman Elliott LLP and Deloitte LLP respectively acted as advisors to Air Canada and Aeroplan. Scotiabank, Kirkland and Ellis LLP and Blake, Cassels & Graydon LLP respectively acted as advisors to Blackstone.

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC).

About Aeroplan

Aeroplan Inc. operates Canada’s leading travel loyalty program, with more than 10 million active members worldwide. Aeroplan Members can earn or redeem points with over 50 airlines to 1,300+ destinations globally, without blackouts or surcharges. Members can redeem Aeroplan points for a variety of travel, merchandise, gift cards and other rewards provided directly by participating partners or made available through Aeroplan’s suppliers. Aeroplan Elite Status recognizes Air Canada’s frequent flyers, as well as Aeroplan’s most engaged members, with a range of priority travel services and membership benefits. To join Aeroplan and start turning daily purchases into points for flights, hotel stays, gifts and more, visit aircanada.com/aeroplan.

About Blackstone

Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s over US$1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

About La Caisse

For more than 60 years, La Caisse has invested with a dual mandate: generate optimal long-term returns for its 48 depositors, who represent over six million Quebecers, while contributing to Québec’s economic development.

As a global investment group, La Caisse is active in major financial markets, private equity, infrastructure, real estate and private credit. As at December 31, 2025, its net assets totaled $517 billion. Learn more at LaCaisse.com, LinkedIn and Instagram.

La Caisse is a registered trademark of Caisse de dépôt et placement du Québec that is protected in Canada and other jurisdictions and licensed for use by its subsidiaries.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release includes forward-looking statements within the meaning of applicable securities laws. Forward-looking statements relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These statements may involve, but are not limited to, comments relating to guidance, strategies, expectations, planned operations or future actions, including statements relating to the settlement of the investment in Aeroplan, Air Canada's intention to undertake the proposed offer and the terms and conditions thereof (including the maximum dollar value of shares that Air Canada may purchase under the proposed offer, the structure of the proposed offer including a modified Dutch auction procedure and the proposed offer not being conditional upon any minimum number of shares being tendered), the timing for determination of the pricing, launch and completion of the proposed offer and Air Canada's intention to fund the proposed offer with proceeds from the investment in Aeroplan. Forward-looking statements are identified using terms and phrases such as "preliminary"; "anticipate"; "believe"; "could"; "estimate"; "expect"; "intend"; "may"; "plan"; "predict"; "project"; "will"; "would"; and similar terms and phrases, including references to assumptions.

Forward-looking statements, by their nature, are based on assumptions including those described herein and are subject to important risks and uncertainties. Forward-looking statements cannot be relied upon due to, among other things, changing external events and general uncertainties of the business of Air Canada. Actual results may differ materially from results indicated in forward-looking statements due to a number of factors, including those discussed below.

Factors that may cause results to differ materially from results indicated in forward-looking statements include the completion and the time of settlement of the investment in Aeroplan, economic conditions, including high or volatile fuel prices or significant disruptions in the supply of aircraft fuel, including as a result of the military conflict in the Middle East, statements or actions by governments and uncertainty relating to the imposition of (or threats to impose) tariffs on Canadian exports or imports and their resulting impacts on the Canadian, North American and global economies and travel demand, geopolitical and security conditions including in relation to the military conflicts in the Middle East and between Russia and Ukraine, Air Canada’s ability to successfully achieve or sustain positive net profitability, industry and market conditions and the demand environment, competition, Air Canada’s dependence on technology, cybersecurity risks, interruptions of service, climate change and environmental factors (including weather systems and other natural phenomena and factors arising from anthropogenic sources), Air Canada’s dependence on key suppliers (including government agencies and other stakeholders supporting airport and airline operations), employee and labour relations and costs, Air Canada’s ability to successfully implement appropriate strategic and other important initiatives (including Air Canada’s ability to manage operating costs), energy prices, Air Canada’s ability to pay its indebtedness and maintain or increase liquidity, Air Canada’s dependence on regional and other carriers, Air Canada’s ability to attract and retain required personnel, epidemic diseases, changes in laws, regulatory developments or proceedings, terrorist acts, war, Air Canada’s ability to successfully operate its loyalty program, casualty losses, Air Canada’s dependence on Star Alliance® and joint ventures, Air Canada’s ability to preserve and grow its brand, pending and future litigation and actions by third parties, currency exchange fluctuations, limitations due to restrictive covenants, insurance issues and costs, and pension plan obligations as well as the factors identified in Air Canada’s public disclosure file available at www.sedarplus.ca and, in particular, those identified in section 14 “Risk Factors” of Air Canada’s First Quarter 2026 MD&A and in section 18 “Risk Factors” of Air Canada’s 2025 MD&A.

Air Canada has and continues to establish targets, make commitments and assess the impact regarding climate change, and related initiatives, plans and proposals that Air Canada and other stakeholders (including government, regulatory and other bodies) are pursuing in relation to climate change and carbon emissions. The achievement of our commitments and targets depends on many factors, including the combined actions of governments, industry, suppliers and other stakeholders and actors, as well as the development and implementation of new technologies. In particular, our 2030 carbon emission-related targets and our related 2050 aspiration are ambitious and heavily dependent on new technologies, renewable energies and the availability of a sufficient supply of sustainable aviation fuels (SAF), which continues to present serious challenges. In addition, Air Canada has incurred, and expects to continue to incur, costs to achieve its aspirational goal of net-zero carbon emissions and to comply with environmental sustainability legislation and regulation and other standards and accords. The precise nature of future binding or non-binding legislation, regulation, standards and accords, on which local and international stakeholders are increasingly focusing, cannot be predicted with any degree of certainty, nor can their financial, operational or other impact. There can be no assurance of the extent to which any of our climate goals will be achieved or that any future investments that we make in furtherance of achieving our climate goals will produce the expected results or meet increasing stakeholder, environmental, social and governance expectations. Moreover, future events could lead Air Canada to prioritize other nearer-term interests over progressing toward our current climate goals based on business strategy, economic, regulatory and social factors, and potential pressure from investors, activist groups or other stakeholders. If we are unable to meet or properly report on our progress toward achieving our climate change goals and commitments, we could face adverse publicity and reactions from investors, customers, advocacy groups or other stakeholders, which could result in reputational harm or other adverse effects to Air Canada.

The forward-looking statements contained or incorporated by reference in this news release represent Air Canada's expectations as of the date of this news release (or as of the date they are otherwise stated to be made) and are subject to change after such date. However, Air Canada disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required under applicable securities regulations.

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¹ Except as otherwise noted, monetary amounts in this news release are stated in Canadian dollars.

MONTRÉAL, Aug. 06, 2026 (GLOBE NEWSWIRE) -- Air Canada today welcomed the Government of Canada’s announcement of an expanded Air Transport Agreement between Canada and Nigeria. Air Canada intends to launch scheduled service to Lagos in 2027 and is starting the process to obtaining the necessary government approvals to operate commercial flights to Nigeria.

“We welcome this expanded Air Transport Agreement and look forward to obtaining the necessary government approvals to begin service to Lagos, Nigeria in the coming year,” said Mary-Jane Lorette, Vice President, Revenue Management, Partnerships, and International Affairs at Air Canada.

“By expanding our air transport agreements, we are creating new opportunities for Canadian airlines and giving travellers more choice. The newly expanded Canada-Nigeria Air Transport Agreement will strengthen our economic ties, support tourism and trade, and making it easier for people and businesses in both countries to connect,” said The Honourable Steven MacKinnon, P.C., M.P., Minister of Transport.

“This expanded agreement creates a direct link between Canada and Nigeria. It means more choice for travellers, stronger ties between our people, and new opportunities for businesses to expand trade in both directions,” stated The Honourable Maninder Sidhu, P.C. M.P., Minister of International Trade for the Government of Canada. “I have met many Canadians of Nigerian descent who have long called for greater connectivity between Canada and Nigeria, and I know more flight options will be welcome news. Nigeria is one of Africa’s largest economies. A direct connection to Lagos brings Canadian exporters closer to that market while also bringing families, communities, and partners closer together.”

Details including schedules and aircraft will be announced in due course and remains subject to receipt of government approval and completion of applicable processes to operate in Nigeria.

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC).

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MONTRÉAL, July 30, 2026 – Air Canada today announced that the airline has achieved IATA CEIV Lithium Batteries certification for shipments with Air Canada Cargo, further strengthening its specialized cargo capabilities and reinforcing its commitment to safety, compliance and operational excellence.

The certification validates Air Canada’s adherence to globally recognized standards for the safe handling, storage and transportation of lithium battery shipments, a growing segment of the global air cargo market driven by demand from industries including consumer electronics, medical technology, electric vehicles and energy storage.

“Achieving IATA CEIV Lithium Batteries certification is an important milestone for Air Canada Cargo and reflects the strength of our people, processes and operational discipline,” said Janet Wallace, Managing Director, Cargo Operations and Transformation at Air Canada. “As customers increasingly rely on air cargo to transport complex and highly regulated shipments, this certification gives them added confidence that their lithium battery shipments are handled safely, efficiently and in accordance with rigorous global standards.”

As part of the certification process, Air Canada completed a comprehensive review of its cargo operating procedures and undertook an independent IATA audit of its documented processes, procedures and operational activities, including an on-site assessment of its Montréal (YUL) cargo facility. Key Air Canada personnel, including Dangerous Goods specialists from warehouse operations and representatives from Cargo Operations and Transformation Management, also completed specialized IATA lithium battery training required for certification in the proper handling of lithium batteries.

This certification applies only to commercial cargo shipments and does not apply to passengers travelling with lithium batteries. Passenger requirements are available here: https://www.aircanada.com/ca/en/aco/home/plan/baggage/special-items.html#/filter-tab-restricted-and-prohibited

CEIV Lithium Batteries builds on Air Canada’s existing CEIV Pharma and CEIV Live Animals certifications, reinforcing its expertise in handling specialized, sensitive and highly regulated commodities across its global network.

With service to more than 450 destinations worldwide, Air Canada combines broad global reach with internationally recognized safety and quality standards.

For all the latest Air Canada Cargo news, follow us on Linkedin.

About Air Canada Cargo

Air Canada Cargo is an award-winning provider of air cargo services and Canada's largest air cargo provider as measured by cargo capacity, with a presence in over 50 countries and self-handled hubs in Montreal, Toronto, Vancouver, Chicago, London, and Frankfurt. As the dedicated air freight division of Air Canada, Air Canada Cargo offers reliable air freight lift and connectivity across six continents using Air Canada’s domestic and international passenger and freighter flights, and trucking services. For more information, please visit: aircanadacargo.com

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC).

- 30 -

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MONTRÉAL, July 29, 2026 (GLOBE NEWSWIRE) -- Air Canada and the Air Canada Foundation today announced the two inaugural recipients of the Big Dreams Grant Program, a national community investment initiative that launched earlier this year, inspired by Air Canada’s longstanding partnership with the Canadian Olympic Committee and Canadian Paralympic Committee, and by the spirit of Team Canada. New Pathways Foundation receives the Air Canada Foundation’s Healthy Futures Grant for its initiative “Become” and Women’s Para Hockey of Canada receives the Accessible Sports and Recreation Grant for its project “Future on Ice”. Rooted in values of inclusion, health, and national pride, the Big Dreams Program reinforces the Foundation’s commitment to equity-deserving groups and expands access to sport and recreation opportunities that support that health, well-being and development of children and youth across Canada.

“At the heart of the Air Canada Foundation’s mission is a simple belief: every child deserves the chance to feel supported, included and able to imagine what is possible for their future,” said Eric Lauzon, Director, Community Relations and Partnerships. “Through this exclusive Big Dreams Grants program, we are proud to support initiatives that help young people build confidence, discover their strengths and feel a true sense of belonging in their communities.”

Each grant within the Big Dreams Grant Program, the Healthy Futures and the Accessible Sports and Recreation, provides a $100,000 grant to a Canadian organization creating inclusive sport and recreation opportunities for children and youth. The inaugural recipients were selected for initiatives that use movement, mentorship and community connection to support young people’s health, well-being and development.

Healthy Futures Grant
New Pathways Foundation – Become (Wendake, QC)

The Become the Next Coach sports camp empowers First Nations youth through movement, mentorship, and cultural pride. Over several days, participants build confidence, leadership, teamwork, and life skills through sports, workshops, and conversations with inspiring role models. Each youth also develops a post camp project such as coaching a local team or creating a community training space, ensuring the program’s impact continues within their home community.

“We believe that every First Nations young person deserves the opportunity to dream big,” said Marie-Claude Cleary, Executive Director, New Pathways Foundation. “Our collective responsibility is to provide them with the opportunities, role models, and confidence they need to turn their dreams into projects, and their projects into reality. By walking alongside us on these new pathways, the Air Canada Foundation is helping expand what is possible for these young people, and for that, we are deeply grateful.”

Accessible Sports and Recreation Grant
Women’s Para Hockey of Canada – Future on Ice (National)

Future on Ice expands Para hockey opportunities for children and youth with disabilities through inclusive “try-it” events, a virtual ambassador series, and a national awareness campaign. Led entirely by girls and women Para athletes, the program creates welcoming spaces where young people can learn skills, build confidence, and see themselves reflected in sport. Families also gain reassurance that these environments are intentionally designed to support youth with disabilities and help connect them with community-based programs and resources, creating pathways for long-term participation and inclusion.

“The Air Canada Foundation grant is instrumental in helping WPHC create meaningful sport opportunities for youth with disabilities,” said Christina Picton, WPHC national team athlete. “With this support, we're able to reduce barriers to participation, foster confidence, and build a welcoming community where participants can discover the joy of Para ice hockey. This programming is empowering for youth to see what's possible, connect with role models, and gain a sense of belonging. We're incredibly grateful to the Air Canada Foundation for investing in a more inclusive future and helping us inspire the next generation of young athletes in Para sport.”

About the Air Canada Foundation
The Air Canada Foundation, a not-for-profit organization focused on the health and well-being of children and youth, was launched in 2012. It offers both financial and in-kind support to Canadian-registered charities. Core programs include the Hospital Transportation Program (HTP), which redistributes Aeroplan points to partners of the Air Canada Foundation HTP, including 15 pediatric hospitals across the country, Hope Air and the David Foster Foundation. All donated points enable sick children to access the medical care they need away from home. The Air Canada Foundation, in collaboration with the airline, also engages directly in fundraising activities, such as the Every Bit Counts program, which encourages customers to donate loose change of all denominations on board flights or through collection containers available in Air Canada Maple Leaf Lounges. The Foundation also offers continued support to major health-related causes that benefit Canadians and is an active participant in international humanitarian relief activity as the need arises. For more information about the Air Canada Foundation, please read the 2025 Impact Report.

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, excursions, and a variety of activities and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC).

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MONTRÉAL, July 22, 2026 (GLOBE NEWSWIRE) -- Air Canada is pleased to welcome the ratification of a new collective bargaining agreement with the International Association of Machinists and Aerospace Workers (IAMAW) representing the airline’s 11,000 employees in the Technical Operations, Maintenance and Operational Support (TMOS) group, which includes Technical Operations, Airports and Cargo, Logistics and Supply, and Cabin Services employees. The four-year collective agreement is in effect from April 1, 2026 until March 31, 2030.

“The commitment shown by both Air Canada and the IAMAW throughout these negotiations reflects our shared objective of reaching meaningful agreements that support our employees and the company’s continued growth. A key priority for us was further acknowledging the skilled expertise and valuable contributions of our TMOS employees. Now that new agreements have been successfully concluded with all major unions after the expiration of the previous long-term contracts, we are well-positioned to advance our New Frontiers strategic plans and deliver even greater value to Air Canada’s stakeholders,” said Michael Rousseau, President and Chief Executive Officer at Air Canada.

The IAMAW represents more than 11,000 employees in Air Canada’s TMOS group, Finance, and Clerical at Air Canada, through three separate contracts.

Six collective agreements have now been concluded at Air Canada this year. The most recent ratification by the airline’s TMOS employees follow earlier ratifications by its 170 Finance employees (IAMAW), 115 Clerical employees (IAMAW), approximately 6,000 Customer Service employees (Unifor), 100 Flight Operations Crew Schedulers (Unifor), and 90 In-Flight Crew Schedulers (Unifor).

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC).

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Media and the public may access this call on a listen-only basis. Details are as follows:

Second quarter 2026 results will be released prior to the conference call.

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MONTRÉAL, July 20, 2026 (GLOBE NEWSWIRE) -- Air Canada, the country’s largest airline and flag carrier, and Airbus, a global leader in aerospace manufacturing with the largest commercial aircraft industrial footprint in Canada, are uniting their shared commitment to aviation decarbonisation. To lead the way in advancing these goals, the two aviation pioneers are proud to announce their intent to establish a jointly funded Sustainability Co-Investment Platform. This agreement states a shared objective to invest up to approximately C$13.7 million (US$10 million), through the platform to support a commercial-scale Sustainable Aviation Fuel (SAF) industry in Canada. Both companies are confident that, with a supportive public policy framework in place, this investment can serve as a catalyst for the broader Canadian SAF ecosystem.

Key focus areas include accelerating a jointly agreed Canadian SAF project toward a Final Investment Decision (FID). While Air Canada and Airbus intend to drive this investment, both companies look forward to continuing their constructive collaboration with government partners to establish the right structural frameworks to support SAF production to emerge at scale in Canada. Their ongoing joint advocacy alongside the Canadian Council for Sustainable Aviation Fuels (C-SAF) reflects a shared commitment to working with federal and provincial governments. By aligning industry initiatives with supportive public policy mechanisms, they can successfully champion domestic SAF production and price competitiveness, with the objective to make renewable fuels available for the Canadian aerospace industry and to preserve affordability of air travel.

“Air Canada is proud to help advance aviation’s energy transition in Canada. Through this joint initiative with Airbus, we are taking meaningful steps toward supporting domestic SAF production, helping corporate customers address the emissions associated with business travel, and contributing to a lower-carbon path for the industry. With continued industry collaboration and a supportive policy environment, we are confident this momentum can accelerate,” said Valerie Durand, Vice President, Airport Affairs, Corporate Real Estate and Sustainability at Air Canada.

“I want to thank Air Canada for this very important joint sustainability initiative. Decarbonising aviation will require deep industry collaboration and decades of investment in new sources of renewable energy. By launching this co-investment platform and making a long-term commitment to Air Canada’s Leave Less Travel Programme, we will help to stimulate the production of, and demand for, SAF in Canada. The country has a vast feedstock potential. When combined with a supportive policy framework, it can contribute to the sector’s decarbonisation ambitions and create significant economic growth and job creation.” said Julie Kitcher, Airbus Chief Sustainability Officer and Communications.

Climate Solution for Corporate Travel

Complementing this foundational investment, the initiative introduces a vehicle for corporate partners to stimulate domestic SAF demand through Air Canada’s Leave Less Travel Program. Demonstrating its commitment, Airbus has signed a long-term, 5-year Leave Less Travel Program Agreement. As part of this parallel corporate travel partnership, which distributes verified SAF environmental attributes to participants, Airbus will purchase SAF environmental attributes associated with over 60,000 litres of SAF for its first allocation. Through this programme, Air Canada will track Airbus’ greenhouse gas (GHG) emissions associated with their corporate travel and remove verified SAF environmental attributes on the company's behalf. Although in-sector emissions reductions are not a substitute for direct emissions reductions at the source, this corporate partnership is a key tool in supporting the scaling up of SAF and will allow Airbus to lower life cycle emissions associated with their employees' business travel.

The use of renewable fuels, such as SAF, complements Air Canada’s extensive fleet modernization strategy, featuring more fuel-efficient aircraft like the long-range narrow-body Airbus A321XLR and the Canada-built Airbus A220. Air Canada and Airbus fully support the aviation aspirational climate ambition set by IATA, ATAG and ICAO to reach ‘net-zero carbon emissions by 2050’, with SAF as a critical component to such pathway.

Multi-Billion Dollar Economic Potential

Beyond the reduction of life cycle emissions, developing a robust domestic SAF ecosystem could trigger a massive ripple effect across the Canadian economy. The strategic platform arrives alongside a new macroeconomic study by Airbus and ICF highlighting Canada's significant potential to lead in aircraft biofuels production.

The study reveals that scaling domestic SAF to meet 40% of Canada's aviation fuel demand by 2040 could add $32 billion to the national GDP and create 140,000 jobs across agricultural, forestry, and urban regions. By establishing a solid platform for corporate investment and support, the Air Canada and Airbus partnership serves as an immediate catalyst to support these multi-billion-dollar economic returns while advancing the development of a domestic SAF ecosystem. Consult the full report on the Airbus website.

Sustainable Aviation Fuels (SAF) are industry terms used to reference a family of alternative synthetic aviation fuels. It is a type of non-conventional jet fuel made from resources that can be regenerated, also known as renewable feedstocks. It is chemically similar to conventional aviation fuel but comes from non-fossil sources, making it a lower-carbon alternative over the complete fuel life cycle. To learn more about SAF, visit the Air Canada SAF page or Airbus commitment to sustainable aviation fuel.

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC).

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/386cc139-b30c-4b45-92fc-1dc2d84d3964

• 37 daily frequencies provide direct connection to Air Canada’s extensive global network
• New service uses dedicated high-occupancy vehicle lanes and private airport entrance, making it faster than driving
• Children under 15 ride Air Canada City Shuttle free with an accompanying adult
• Book now at montreal.landline.com
   

MONTRÉAL, July 13, 2026 (GLOBE NEWSWIRE) -- Air Canada today announces the launch of the Air Canada City Shuttle, an expansion of its multi-modal partnership with The Landline Company. Beginning today, this new service will provide a fast, frequent and direct motorcoach connection for Air Canada customers between the Palais des congrès de Montréal and Montréal-Trudeau International Airport (YUL) for $9 one way, plus applicable taxes.

The Air Canada City Shuttle is designed to provide more predictable travel times between downtown Montréal and YUL. Using the highway's dedicated high-occupancy vehicle lane and a private airport entrance helps ensure a faster ride, which could save customers up to 25 minutes at peak times compared to airport access roads.

“The Air Canada City Shuttle gives our customers a faster, more predictable way to travel between downtown Montréal and the airport,” said Ranbir Singh, Director, Regional Airlines and Markets, at Air Canada. “Our customers can now bypass traffic and avoid waiting in taxi lines. By combining frequent downtown service and faster, more direct access to YUL, we are making it easier for them to connect to Air Canada’s global network.”

“Getting to the airport is often the most stressful part of the trip for many travellers, and it shouldn't be,” said Nick Johnson, Vice President, Commercial, The Landline Company. “The service helps reduce congestion on airport access roads while making air travel more convenient for convention attendees, business travellers and visitors in downtown Montréal.”

“This represents a major new added-value service for convention-goers, but also for tourists and Montrealers in general,” said Emmanuelle Legault, President and CEO, Palais des congrès de Montréal. “The Palais’ strategic location in the heart of downtown and the city’s hotel network makes it a natural anchor point for this initiative aimed at facilitating the commutes of thousands of visitors. We are pleased to be doing this in tandem with Air Canada, a longstanding partner that shares our commitment to fostering sustainable mobility and bolstering Montréal’s brand as a business and tourism destination.”

“With the summer season officially beginning, ADM Aéroports de Montréal wishes to commend its partner Air Canada for the introduction of this new shuttle service linking YUL Montréal–Trudeau Airport to the Montréal convention centre. Pending the commissioning of the REM station and new drop-off areas, which will help address congestion at the airport, this initiative will provide passengers with an additional transportation option that will be simple, fast, and integrated into their travel experience,” said Jerome Conraud, Vice-President, Strategy, Planning, and Sustainability at ADM.

How It Works

The Air Canada City Shuttle will operate 37 daily frequencies, timed to connect customers to Air Canada’s extensive global network.

Departing downtown: Customers begin their journey at the Palais des congrès de Montréal, where they can relax in a dedicated waiting area before boarding a premium motorcoach. Upon arrival at the airport, customers proceed directly to check-in and bag drop, then to security. Departures run every 15 minutes at peak hours, from 4:45 a.m. to 6:30 a.m., and every 30 minutes thereafter until 9:00 p.m.

From Montréal-Trudeau: Customers arriving at the airport should collect their baggage, then proceed to the Departures level, Door 7, where the Air Canada City Shuttle picks up curbside. Customers can pre-book a trip or board at the airport, subject to availability. Departures run every 15 minutes from 5:15 a.m. to 6:45 a.m., and every 30 minutes thereafter until the final departure at 10:00 p.m.

In the event of a shuttle delay, Air Canada customers with a connection time of at least 95 minutes will be offered complimentary flight rebooking options, subject to availability.

Premium Onboard Experience

The Prevost motorcoaches used for this service are made in Quebec and provide a premium experience, with 48 spacious, reclining leather seats with extra legroom. The service is operated by Quebec-based Autobus Galland. Coaches are equipped with power outlets and an onboard lavatory. Customers requiring assistance with boarding a wheelchair or other mobility aid should contact The Landline Company in advance of travel to arrange accommodations at montreal.landline.com/assistance.

Bookings for the Air Canada City Shuttle are open now and the daily schedule is available at montreal.landline.com.

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, excursions, and a variety of activities and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC).

About The Landline Company

The biggest airlines in the world trust Landline to power their first and last mile connectivity. Through premium multi-modal transportation, Landline brings core airport services closer to where people live, creating new front doors to over stressed airports. Its industry-first platform lets airlines add dynamic new access points through the affordability and reach of ground transportation, without sacrificing quality or customer experience. 

Landline operates across North America on behalf of Air Canada and other major North American airlines, and has served more than one million passengers to date. With more than 225 daily departures, Landline is transforming the airport from a single location into a distributed network connected directly to the communities it serves. Visit landlineco.com for more information.

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MONTRÉAL, July 13, 2026 (GLOBE NEWSWIRE) -- Air Canada said today it has reached a new tentative collective agreement with the International Association of Machinists and Aerospace Workers (IAMAW) representing the airline’s 11,000 Technical Operations, Maintenance and Operational Support (TMOS) group, which includes Technical Operations, Airports and Cargo, Logistics and Supply employees.

The agreement recognizes the contributions and skills of Air Canada’s employees. The four-year collective agreement would take effect from April 1, 2026, and would remain in place until March 31, 2030.

The tentative agreement is subject to ratification by the union membership, which is expected to be completed over the coming days.

If ratified, this would represent the sixth collective agreement concluded at Air Canada this year.

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, excursions, and a variety of activities and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC).

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• The annual golf tournament is the Foundation’s largest fundraising event
• In 2025, the Foundation donated $1.8 million and supported 473 charitable organizations
• Since 2012, the Foundation raised over $20 million for the health and well-being of children and youth
   

MONTRÉAL, July 09, 2026 (GLOBE NEWSWIRE) -- The Air Canada Foundation hosted its 14^th annual Golf Tournament on Tuesday at Club de golf Le Mirage in Terrebonne, Québec. The event raised a record breaking $1.5 million to support the health and well-being of children and youth across Canada.

This year's edition welcomed 375 guests and over 100 sponsors, including corporate partners, suppliers, and vendors who generously supported the Air Canada Foundation’s largest fundraiser of the year. These funds will be disbursed through the Foundation’s annual grants program, providing much-needed assistance for children and youth from equity-deserving communities, and empowering children to soar toward their full potential.

"I want to thank every participant for having joined us for this very special occasion. I’ve had the privilege of being part of this event for quite a few years now and I remain amazed by the generosity of our guests, friends and partners, year after year," said Michael Rousseau, President and Chief Executive Officer at Air Canada. “It takes a lot of people to pull this tournament together every year and I want to express my sincere gratitude to all our employees and retirees who volunteered this week and volunteer year-round in the Foundation’s events. Since 2012, the Foundation has raised $20 million raised for children across the country, an important accomplishment and I speak on behalf of everyone at Air Canada when I say this: thank you to every single person who has donated in the past 14 years. Thank you for sharing our mission and thank you for making a difference.”

“There is a lot to be proud of,” said Louise-Hélène Sénécal, Chair of the Air Canada Foundation. “Not only have we reached an incredible milestone, but days like these remind us all of how important and dear to so many people the Foundation’s mission is. A heartfelt thank you to all of our participants, this year and every year before, and also to our volunteers for their support in helping us make a lasting difference in the lives of children and families.”

The tournament was organized and hosted by 50 Air Canada employee and retiree volunteers. The Dr. Clown Foundation, long-term partner of the Foundation, was on site to interact with and delight guests, participate in photos, and share the meaningful impact of its therapeutic clown programs in hospitals and Indigenous communities. Sylas, this year’s Air Canada Foundation Hospital Transportation Program Ambassador and Alessandro, representing pediatric hospitals in British Columbia and Quebec, ran the highly popular lemonade stand and raised nearly $10,000.

In 2025, the Air Canada Foundation donated $1.8 million and supported 473 charitable organizations across Canada. These donations helped provide approximately 550,000 meals to address food insecurity, including vital support for schools in Indigenous communities, and offered healthy meals to children during the summer period when schools are closed. It also helped realize 1,113 dreams for children facing adversity.

Last May, the Air Canada Foundation unveiled its 2025 Impact Report, showcasing the significant contributions made to communities throughout the year. The report highlights achievements across various areas, including programs, partnerships, fundraising efforts, and employee engagement initiatives.

About the Air Canada Foundation
The Air Canada Foundation, a not-for-profit organization focused on the health and well-being of children and youth, was launched in 2012. It offers both financial and in-kind support to Canadian-registered charities. Core programs include the Hospital Transportation Program (HTP), which redistributes Aeroplan points to partners of the Air Canada Foundation HTP, including 15 pediatric hospitals across the country, Hope Air and the David Foster Foundation. All donated points enable sick children to access the medical care they need away from home. The Air Canada Foundation, in collaboration with the airline, also engages directly in fundraising activities, such as the Every Bit Counts program, which encourages customers to donate loose change of all denominations on board flights or through collection containers available in Air Canada Maple Leaf Lounges. The Foundation also offers continued support to major health-related causes that benefit Canadians and is an active participant in international humanitarian relief activity as the need arises. For more information about the Air Canada Foundation, please read the 2025 Impact Report.

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, excursions, and a variety of activities and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC).

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MONTRÉAL, July 08, 2026 (GLOBE NEWSWIRE) -- Air Canada announced today that Anko van der Werff will become its next President and Chief Executive Officer, and a member of the Board, by the end of January 2027. Mr. Van der Werff, currently President and Chief Executive Officer at Scandinavian Airlines, succeeds Michael Rousseau, who previously announced his retirement after 19 years with Air Canada.

“Our Board of Directors was impressed by the quality of experienced executives from around the world who expressed interest in the role,” said Vagn Sørensen, Chair of the Board. “We are delighted to have attracted and recruited an executive of Mr. Van der Werff’s stature to lead Air Canada. He has an exceptional breadth of international aviation experience and a proven 25-year track record, including his most recent forward-looking executive leadership at Scandinavian Airlines, Avianca Group, and Aeroméxico and earlier at KLM Royal Dutch Airlines (now Air France-KLM) and Qatar Airways. We are confident he will drive further value-creating growth and transformation while maintaining our commitment to disciplined capital allocation.”

“Air Canada is a globally recognized airline leader. It is an honour to be chosen to lead this iconic Canadian company as it advances its ambitions and strategy, builds on its award-winning employee culture and customer value proposition, and prepares for an even brighter future,” said Anko van der Werff. “I look forward to working closely with Air Canada’s talented executive team and with all employees to fulfil our commitments to shareholders and customers. I am excited about relocating to Montréal and eager to get started.”

Mr. Sørensen concluded: “The Board is grateful to Michael Rousseau for his outstanding leadership and extraordinary contributions, which are in large part responsible for the enviable position Air Canada enjoys among global carriers. We thank him for that legacy and for his support with the transition.”

The selection of Mr. Van der Werff follows a comprehensive global search for the best person to lead Air Canada into the future. The search considered a number of performance criteria, including the ability to communicate in French.  

Mr. Rousseau’s retirement is effective August 31, 2026. He will continue to be available as needed throughout the transition. Following his departure and for the duration of the transition period, the Executive Committee will report to the Board of Directors.

For a video by Anko van der Werff in French, please see here. 

Biographical notes

Anko van der Werff will become President and Chief Executive Officer of Air Canada by the end of January 2027. A global aviation executive with more than 25 years of international airline leadership experience, he has held senior roles across Europe, Latin America and the Middle East. Prior to joining Air Canada, he served as President and CEO of SAS Scandinavian Airlines, leading the carrier through a significant period of transformation and strategic renewal.

Before joining SAS in 2021, Mr. Van der Werff was Chief Executive Officer of Avianca, one of Latin America's leading airlines. Earlier in his career, he served as Executive Vice President and Chief Commercial Officer at Aeroméxico, held senior commercial leadership positions at Qatar Airways, and occupied a number of management roles at KLM Royal Dutch Airlines.

Mr. Van der Werff served on the Board of Governors of the International Air Transport Association (IATA) until June 2026 and has also served on the boards of several international organizations in the aviation, technology and business sectors.

He holds a master's degree in law from Leiden University and completed executive studies at Harvard Business School.

A native of the Netherlands, Mr. Van der Werff speaks Dutch. He is able to communicate in French. Aside from those two languages and English, he also learned Spanish, Italian and Swedish at different levels over the course of his international career.

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, excursions, and a variety of activities and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC).

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• New partnership gives Aeroplan Members more ways to earn throughout their airport journey
• Members can earn Aeroplan points at participating Avolta retail locations, including Hudson and Dufry stores, with HMSHost dining locations to follow later this year
• Partnership will expand to nearly 1,900 participating airport retail and food & beverage outlets across North America
   

MONTRÉAL, June 30, 2026 (GLOBE NEWSWIRE) -- Aeroplan and Club Avolta are launching a new collaboration giving members more ways to earn points throughout their travel journey. Starting today, Aeroplan Members who link their Aeroplan and Club Avolta accounts through the Club Avolta app will be able to earn Aeroplan points on eligible purchases at more than 900 Avolta airport and travel retail locations.

Through the partnership, members will also earn one Aeroplan point for every C$2 spent on eligible purchases in-store at participating locations operated by Avolta’s Hudson and Dufry, and when pre-ordering through Avolta’s Reserve & Collect online service and via the company’s Club Avolta app.

Later this year, the partnership will expand to Avolta’s HMSHost dining locations, allowing members to earn on eligible food and beverage purchases at casual dining restaurants, quick-service outlets, bars, and Grab & Go locations. Once fully expanded, the partnership will include nearly 1,900 participating airport retail and food and beverage outlets across North America.

Travellers who link their Aeroplan and Club Avolta accounts can also unlock access to offers, rewards, and cross-promotions across Air Canada’s global network and at Avolta’s duty-free, convenience, and participating specialty retail outlets.

Participating locations include major Canadian airports such as:

• Toronto Pearson International Airport (YYZ)
• Vancouver International Airport (YVR)
• Calgary International Airport (YYC)
• Billy Bishop Toronto City Airport (YTZ)

Participating outlets also include major U.S. airports such as Los Angeles (LAX), San Francisco (SFO), and Chicago O’Hare (ORD).

“The Club Avolta and Aeroplan partnership represents a transformational milestone for Club Avolta as our first North American airline loyalty integration,” said Atousa Ghoreichi, Avolta’s Senior Vice President of Digital, North America. “With Club Avolta, we’re enhancing the Air Canada customer journey by providing additional earning opportunities to Aeroplan Members. As our partnership grows to nearly 1,900 retail and food & beverage outlets in North America, there will be endless ways for travellers to earn.”

“Travel starts well before the boarding gate, and we want to make more of it rewarding for our members,” said Scott O’Leary, Vice President, Loyalty and Product at Air Canada. “Our partnership with Avolta brings Aeroplan into moments that are already part of how people travel –grabbing a bite before their flight, picking up a duty-free deal – creating more ways for our members to earn across the entire trip.”

With over 16 million members worldwide, Club Avolta is the world’s first global loyalty program spanning duty-free, duty-paid, and F&B that has redefined how travellers engage with retail, dining, and convenience services across the globe. Visit ClubAvolta.com and aircanada.com/aeroplan to join the community and start earning.

Aeroplan Celebrated at the 2026 Freddie Awards

This marks Aeroplan’s fourth consecutive winning year at the Freddie Awards, the travel loyalty industry’s most respected honours, based on votes from more than 9 million loyalty members globally. Aeroplan is proud to be recognized for earning several top honours at this year’s Freddie Awards, including Program of the Year.

About Aeroplan

Air Canada’s Aeroplan is Canada’s leading travel loyalty program, with more than 10 million active members worldwide. Aeroplan Members can earn or redeem points with over 50 airlines to 1,300+ destinations globally, without blackouts or surcharges. Redeem for one-way short-haul flights starting at 6,000 points, Air Canada Vacations packages, and 9,000+ hotel partner properties, or shop brands like Amazon, Apple, and Dyson via the Aeroplan eStore, with redemptions starting at 3,500 points. To join Aeroplan and start turning daily purchases into points for flights, hotel stays, gifts and more, visit aircanada.com/aeroplan.

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, excursions, and a variety of activities and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC).

About Avolta AG

Avolta AG (SIX: AVOL) is a global leader at the intersection of travel retail and food & beverage, delivering integrated shopping and dining experiences across airports, motorways, cruise lines, ferries, rail and other high-traffic travel locations worldwide.

Avolta’s global workforce operates in more than 70 countries and across nearly 1,000 locations, managing around 5,100 points of sale. Its traveler-centric strategy is built on digital, data and continuous innovation, while its scale and reach, across multiple travel environments, strengthens resilience and underpins consistent operational and financial performance.

To learn more, visit avoltaworld.com

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• The Alliance will continue to provide seamless global connectivity through 14 member airlines in Seoul.

Asiana Airlines, headquartered in Seoul, will formally leave Star Alliance on December 16, 2026, 23:59 Korea Standard Time.

Since joining Star Alliance in 2003, Asiana Airlines has played a valued role in delivering seamless customer experiences across the network. On behalf of all member airlines, Star Alliance thanks Asiana Airlines and its employees for contributing to the exceptional customer experience that the Alliance is known for worldwide.

Star Alliance and Asiana Airlines will work closely together to ensure a seamless and coordinated experience for customers in the lead-up to the airline’s departure from the Alliance. Customers enrolled in any Star Alliance member airlines’ frequent flyer program may continue to earn miles on Asiana Airlines-operated flights departing on or before October 15, 2026. Customers may also continue to redeem miles for Star Alliance award tickets and upgrades on Asiana Airlines for travel completed on or before December 16, 2026, subject to the redemption policies and timelines of their respective frequent flyer programme. Customers are encouraged to consult their respective frequent flyer programme for details. Additionally, Star Alliance Gold and Silver status customers may continue to enjoy alliance status benefits, including priority services, when travelling on Asiana Airlines until December 16, 2026. Star Alliance Gold customers may also continue to enjoy lounge access, including at eligible Asiana Airlines lounges when travelling on the Star Alliance network.

Following Asiana Airlines’ departure from Star Alliance, 14 Star Alliance member airlines will continue to operate to and from Incheon International Airport, including Air Canada, Air China, Air India, Air New Zealand, EVA Air, Ethiopian Airlines, Lufthansa, LOT Polish Airlines, SWISS, Singapore Airlines, Shenzhen Airlines, Thai Airways, Turkish Airlines, and United. Today, these member airlines operate more than 1,900 direct flights each month from Incheon International Airport to 29 destinations worldwide.

Effective December 17, 2026, Star Alliance will comprise 25 member airlines, continuing to make multi-airline global journeys effortless for customers.

About Star Alliance

Established in 1997 as the first truly global airline alliance, Star Alliance was founded on a customer value proposition of global reach, worldwide recognition, and seamless service. Today, guided by a vision for a world effortlessly connected, Star Alliance enriches customer journeys and reinforces loyalty by creating tailored solutions that empower member airlines beyond their individual capabilities.

The member airlines are: Aegean Airlines, Air Canada, Air China, Air India, Air New Zealand, ANA, Asiana Airlines, Austrian Airlines, avianca, Brussels Airlines, Copa Airlines, Croatia Airlines, EGYPTAIR, Ethiopian Airlines, EVA Air, ITA Airways, LOT Polish Airlines, Lufthansa, Shenzhen Airlines, Singapore Airlines, South African Airways, SWISS, TAP Air Portugal, THAI, Turkish Airlines, United.

Star Alliance unites 26 of the world’s leading airlines, providing travellers with seamless access to over 1,150 airports across 190 countries - covering 90% of the world. Further connecting flights are offered by Star Alliance Connecting Partner Juneyao Airlines.

Star Alliance Press Office:

+65 8729 6691; mediarelations@staralliance.com

Visit our website or connect with us on social media:      

• The airline is operating a full summer schedule of more than 50 bucket list destinations across Canada for customers to explore the country, connect with loved ones, and experience the very best of the season
• Air Canada teams across the country are ready to welcome more customers on board as they officially kick off the busiest season of the year with Glowing Hearted hospitality
• Glowing Hearted hospitality, elevated comfort, and Canada Day surprises combine with digital tools and new in-flight offerings for a special celebration of the country by its proud flag carrier 

MONTRÉAL, June 26, 2026 (GLOBE NEWSWIRE) -- Air Canada expects to welcome more than 1 million customers on board over the course of the next week as it kicks off the summer season with a full schedule of flights across Canada. With more than 50 destinations across Canada, the airline is celebrating the very best of the country coast-to-coast-to-coast and beyond, connecting Canadians with the people, places and experiences that make Canada a very special place for all of us. With Canada Day upon us, customers can expect special touches throughout the travel experience that reflect the pride that every employee feels as the flag carrier for our country.

“For many Canadians, summer vacation is when they explore, discover, and share experiences with each other, whether it’s across Canada or at historically relevant sites abroad, like Juno Beach in France, and we’re proud of the role we play in the travel lives of Canadians,” said Tom Stevens, Vice President of Customer Experience and Service Operations at Air Canada. “We’re ready for the busy summer season and our teams are focused on guiding our customers with a very real sense of Canadian pride as we share the very best of the country with the world.” 

Glowing-Hearted Hospitality – from airport to arrival

Whether navigating busy terminals or settling in at 35,000 feet, Air Canada is committed to elevating every step of its customers’ travel journey. From dedicated, extra-care assistance for families, seniors, and customers with disabilities to premium lounge spaces and curated local treats, customers can expect seamless support and warm, uniquely Canadian hospitality this summer.

At the Airport: Premium Spaces and Seamless Support

• Air Canada Lounges and Cafés: Eligible customers can relax before their flight in Air Canada’s premium airport spaces, including newly upgraded Maple Leaf Lounges in Montreal, and new Air Canada Cafés in Vancouver, Montreal and Quebec City and our Signature Suites in Toronto and Vancouver.
• Aeroplan & Club Avolta Perks: Beginning June 30, 2026, Aeroplan Members can now earn rewards and access exclusive offers across participating airport shopping experiences, from grabbing a pre-flight magazine to browsing duty-free favourites via the Avolta app.
• Extra-Care Assistance: Dedicated on-ground support for families, seniors, unaccompanied minors, and customers requiring additional assistance.
• Accessible Travel Progress: Over the past three years, Air Canada has made significant progress in its journey to make travel more accessible for all through improvements to services, employee training, and programs that support customers with disabilities, rooted in consultation and collaboration with the disability community and accessibility advocates.

On Board: The Eh-levated In-Flight Experience

• Taste of Canada: Kick off your travel with complimentary beer and wine and premium snacks, as well as new Canadian spirits, local beers (including Molson Canadian and Creemore Springs), and new Célébration Mini Maple Leaf Cookies by Leclerc as a tasty treat on international flights departing Canada, starting July 1.
• Canadian Content: Air Canada’s APEX Five Star Alliance Award-winning in-flight entertainment with a curated collection of Canadian programming, including the Air Canada-sponsored travel documentary series How I Got Here.
• Coast-to-Coast Connectivity: Aeroplan Members, United MileagePlus members and Business Class customers can stay connected with fast, free, streaming-quality Wi-Fi on flights within North America and to Sun destinations. Sponsored by Bell.
• Canadian Comfort: Customers travelling internationally in Air Canada Signature Class can relax and recharge with our new amenity kits sourced by Canadian company Hunter Amenities, thoughtfully designed to support a more restful and restorative journey. Each kit includes a reusable contoured eye mask for enhanced comfort, soft cabin socks, and premium Canadian-made essentials, including skincare from award-winning Canadian brand Sahajan.

Navigating the Journey with Confidence 

Air Canada’s digital tools help customers travel with confidence throughout every stage of their journey. Through the Air Canada mobile app, customers can check in, access boarding passes, receive real-time flight updates, track baggage and mobility aids where available, and manage their Aeroplan account, all from one convenient place.

“Summer is when Canadians reconnect with family, explore new places, and create lasting memories, and our goal is to make every step of that journey feel easier and more connected,” said Carlos Faxas, Vice President of Digital Products at Air Canada. “The Air Canada mobile app gives customers access to real-time information throughout their trip, from check-in and boarding to flight updates and baggage tracking, helping them travel with greater confidence. Behind the scenes, technology is also supporting our airport and in-flight teams, allowing them to focus on what matters most: delivering a smooth, caring and distinctly Canadian travel experience.”

Know before you go!

• Get Travel Ready: Before heading to the airport, download the Air Canada mobile app to manage your booking, check travel document requirements, prepare for your trip and check-in starting 24 hours before departure.
• Travel with Confidence: Your boarding pass remains available offline in the Air Canada mobile app, where real-time updates help you stay informed with flight status, gate changes, baggage tracking and notifications when boarding begins.
• Arrive Early and Relax: Give yourself plenty of time to check bags, clear security, and settle in before departure. 

      Insider Tips

• Travel Light: Eligible customers can check a carry-on sized bag for free at check-in and travel through the airport with less to carry. Bags can also be tracked throughout their journey in the Air Canada mobile app.
• Stay Connected Onboard: Join Aeroplan before your trip to enjoy fast, free Wi-Fi on eligible flights within North America and to Sun destinations. You’ll start earning points through everyday purchases with participating partners like Uber and Starbucks before your flight even takes off.
• AC Wallet: Your Aeroplan membership also equips you with the handy AC Wallet, which makes applying flight and promotional credits to your next trip easy.

Summer Travel Not Secured Yet? There’s Still Time to Plan a Getaway! 

Summer is the perfect time to explore Canada! From sturgeon fishing in British Columbia to cruising the St. Lawrence River through Ontario and Quebec, discover the coastlines, cities, and natural wonders from coast-to-coast-to-coast that make every region worth the trip. For those still planning their next getaway, visit aircanada.com to explore current offers and destinations across Canada.

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, excursions, and a variety of activities and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC).

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CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release includes forward-looking statements within the meaning of applicable securities laws. Forward-looking statements relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These statements may involve, but are not limited to, comments relating to guidance, strategies, expectations, planned operations or future actions. Forward-looking statements are identified using terms and phrases such as "preliminary"; "anticipate"; "believe"; "could"; "estimate"; "expect"; "intend"; "may"; "plan"; "predict"; "project"; "will"; "would"; and similar terms and phrases, including references to assumptions.

Forward-looking statements, by their nature, are based on assumptions including those described herein and are subject to important risks and uncertainties, which are amplified in the current environment. Forward-looking statements cannot be relied upon due to, among other things, changing external events and general uncertainties of the business of Air Canada. Actual results may differ materially from results indicated in forward-looking statements due to a number of factors, including those discussed below.

Factors that may cause results to differ materially from results indicated in forward-looking statements include economic conditions, statements or actions by governments and uncertainty relating to the imposition of (or threats to impose) tariffs on Canadian exports or imports and their resulting impacts on the Canadian, North American and global economies and travel demand, geopolitical conditions such as the military conflicts in the Middle East and between Russia and Ukraine, Air Canada's ability to successfully achieve or sustain positive net profitability, industry and market conditions and the demand environment, competition, Air Canada's dependence on technology, cybersecurity risks, interruptions of service, climate change and environmental factors (including weather systems and other natural phenomena and factors arising from anthropogenic sources), Air Canada's dependence on key suppliers (including government agencies and other stakeholders supporting airport and airline operations), employee and labour relations, disruptions and other work stoppages and the financial and operational impacts thereof, Air Canada's ability to successfully implement appropriate strategic and other important initiatives (including Air Canada's ability to manage operating costs), energy prices, Air Canada's ability to pay its indebtedness and maintain or increase liquidity, Air Canada's dependence on regional and other carriers, Air Canada's ability to attract and retain required personnel, epidemic diseases, changes in laws, regulatory developments or proceedings, terrorist acts, war, Air Canada's ability to successfully operate its loyalty program, casualty losses, Air Canada's dependence on Star Alliance® and joint ventures, Air Canada's ability to preserve and grow its brand, pending and future litigation and actions by third parties, currency exchange fluctuations, limitations due to restrictive covenants, insurance issues and costs, and pension plan obligations as well as the factors identified in Air Canada's public disclosure file available at www.sedarplus.ca and, in particular, those identified in section 18 "Risk Factors" of Air Canada's 2024 MD&A and in section 14 "Risk Factors" of Air Canada's Second Quarter 2025 MD&A.

The forward-looking statements contained or incorporated by reference in this news release represent Air Canada's expectations as of the date of this news release (or as of the date they are otherwise stated to be made) and are subject to change after such date. However, Air Canada disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required under applicable securities regulations.

SOURCE Air Canada

INFORMATION: Investor Relations: investors.investisseurs@aircanada.ca; Internet: aircanada.com/investors

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/86477049-b65b-4807-8086-cb09b238bb92

MONTRÉAL, June 22, 2026 (GLOBE NEWSWIRE) -- Air Canada’s employees represented by the International Association of Machinists and Aerospace Workers (IAMAW), voted on two of the three tentative agreements reached on June 12, 2026. The IAMAW announced that those two tentative agreements for 170 Finance people and for 115 Clerical people at Air Canada have been ratified. Ratification is in progress for the third tentative agreement covering the balance or approximately 11,000 Maintenance, Airport Airside Operations, Cargo, and Cabin Services employees.

The IAMAW represents more than 11,000 employees in Maintenance, Airport Airside Operations, Cabin Services, and Cargo, plus Finance and Clerical at Air Canada, through three separate contracts.

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, excursions, and a variety of activities and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC).

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MONTRÉAL, June 15, 2026 - Air Canada today linked Sarnia to its Toronto Pearson global hub with the start of twice-daily service offered through The Landline Company. Customers will be able to board Landline’s luxury motor coaches at Sarnia Chris Hadfield Airport and at no additional charge travel in comfort to Toronto Pearson for their flight.

“Air Canada is always looking to connect Canadian communities. We are delighted to begin Landline service to Sarnia, making it very easy for local residents to access our extensive national, transborder and international networks through our Toronto Pearson global hub,” said Ranbir Singh, Director, Regional Airlines and Markets at Air Canada. “Connections are important for local communities, not only making it easier for their residents to travel but also making them more accessible to tourists and businesses from elsewhere, helping drive economic activity.”

“The launch of Air Canada’s Landline service is an important step in strengthening the role of Sarnia Chris Hadfield Airport as a gateway for residents, businesses, and visitors. Enhanced connectivity is an important part of creating the conditions for growth, competitiveness, and long-term prosperity. We look forward to working with our partners at Air Canada and Landline to maximize the opportunities this new connection can help unlock for our community,” said Kelly Provost, Director of Economic Development, City of Sarnia.

"Until now, catching a flight meant a three-hour drive to Pearson, expensive airport parking, and the stress of navigating one of Canada's busiest terminals. Starting today, that's over. Sarnia travellers can park for free at Chris Hadfield airport, check in right here at home, and ride to Pearson as a confirmed Air Canada passenger -- bags checked, boarding pass in hand. The hard part of travel just got a lot easier," said Nick Johnson, Vice President, Commercial at Landline.

Through Landline Air Canada will offer twice daily return trips between Sarnia Chris Hadfield Airport and Toronto Pearson with a brief stop at Region of Waterloo International Airport.

 A Seamless, Premium Experience

Air Canada customers originating in participating communities will check in as normal for their flight pre-security at their local airport, receive boarding passes for all segments, and have their baggage tagged to their final destination. Upon arrival at Toronto Pearson, customers proceed to the bag drop area and then security before continuing to their departure gate.

The Air Canada-branded motorcoaches operated by Landline are designed and built in Quebec by Prevost, and provide premium features such as spacious leather seating, free Wi-Fi, power outlets, and full accessibility for passengers with reduced mobility. The motorcoaches run multiple non-stop round trips daily from regional airports to Toronto Pearson, offering customers the same benefits as air-only itineraries, including boarding pass and bag tag printing at their regional airport, as well as, disruption protection, and Aeroplan point earning opportunities. In the event of coach or flight delays, customers travelling on Landline will receive similar protections as those travelling on air-only itineraries. Aeroplan members earn points for both ground and air segments.

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, excursions, and a variety of activities and experiences.  Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC).

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MONTRÉAL, June 15, 2026 - Air Canada today linked Muskoka to its Toronto Pearson global hub with the start of twice-daily service offered through The Landline Company. Customers will be able to board Landline’s luxury motor coaches at Muskoka Airport and at no additional charge travel in comfort to Toronto Pearson for their flight.

“Air Canada is always looking to connect Canadian communities. We are delighted to begin Landline service to Muskoka, making it very easy for local residents to access our extensive national, transborder and international networks through our Toronto Pearson global hub,” said Ranbir Singh, Director, Regional Airlines and Markets at Air Canada. “Connections are important for local communities, not only making it easier for their residents to travel but also making them more accessible to tourists and businesses from elsewhere, helping drive economic activity.”

"The launch of Air Canada Landline is a significant milestone for Muskoka Airport and our region. This service provides residents, businesses, and visitors with seamless access to Air Canada’s global network while strengthening Muskoka’s connectivity, tourism economy, and transportation options. We are proud to partner with Air Canada and Landline to bring this innovative service to Muskoka and help make travel more convenient and accessible for everyone," said Maciej Habrych, Chief Executive Officer, Muskoka Airport.

"For too long, residents across Muskoka and Northern Ontario faced a long, costly drive to Pearson every time they needed to fly - hours on the road, expensive parking, and the stress of a massive terminal before their trip even started. That changes on today. Park for free at your local airport, check in close to home, and let us handle the rest. By the time you arrive at Pearson, you're already a step ahead of the crowd," said Nick Johnson, Vice President, Commercial at Landline.

Through Landline Air Canada will offer twice daily return trips between Muskoka Airport and Toronto Pearson. All trips are timed for convenient connections to Air Canada flights.

A Seamless, Premium Experience

Air Canada customers originating in participating communities will check in as normal for their flight pre-security at their local airport, receive boarding passes for all segments, and have their baggage tagged to their final destination. Upon arrival at Toronto Pearson, customers proceed to the bag drop area and then security before continuing to their departure gate.

The Air Canada-branded motorcoaches operated by Landline are designed and built in Quebec by Prevost, and provide premium features such as spacious leather seating, free Wi-Fi, power outlets, and full accessibility for passengers with reduced mobility. The motorcoaches run multiple non-stop round trips daily from regional airports to Toronto Pearson, offering customers the same benefits as air-only itineraries, including boarding pass and bag tag printing at their regional airport, as well as, disruption protection, and Aeroplan point earning opportunities. In the event of coach or flight delays, customers travelling on Landline will receive similar protections as those travelling on air-only itineraries. Aeroplan members earn points for both ground and air segments.

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, excursions, and a variety of activities and experiences.  Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC).

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MONTRÉAL, June 13, 2026 (GLOBE NEWSWIRE) -- Air Canada today said it has reached a tentative collective agreement with the International Association of Machinists and Aerospace Workers (IAMAW) representing more than 11,000 Air Canada employees in Maintenance, Cabin Services, Airport Airside Operations, Cargo, Finance and Clerical.

The agreement recognizes the contributions and skills of Air Canada’s operations and administrative employees. Terms of the new agreement remain confidential pending ratification by the union membership, expected to be completed over the next few weeks, and approval by the Air Canada Board of Directors.

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, excursions, and a variety of activities and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC).

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“On behalf of Air Canada, I thank the members of the Unifor bargaining team for their hard work and diligence in successfully negotiating an agreement. It was important for us that we recognize the contributions and professionalism of our frontline customer service employees, while establishing a framework for the future growth of the airline. I also thank the members of the Air Canada negotiating team for their hard work in reaching this agreement,” said Mike Abbott, Vice-President, Labour Relations at Air Canada.  

This is the third collective agreement ratified at Air Canada this year, following earlier ratifications at the airline by its Flight Operations Crew Schedulers and In-Flight Crew Schedulers.

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of 45 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers more travel choices than any other Canadian tour operator to hundreds of destinations worldwide, with a wide selection of hotels, flights, cruises, day tours, and car rentals. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC) in Canada and the OTCQX (ACDVF) in the US.

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• New Air Canada aircraft to feature Glowing Hearted cabin, including lie-flat seats, a first for a Canadian airline on a single-aisle aircraft
• A321XLR is scheduled to make its inaugural international flight on June 15 from Montréal to Toulouse

MONTRÉAL, June 9, 2026 - Air Canada today marked the entry into scheduled service of its first Airbus A321XLR. The 182 passengers onboard AC413 from Montréal to Toronto experienced the start of a whole new chapter in how - and where - Air Canada customers can fly.

“Air Canada is building one of the most capable fleets in the industry. The entry into service of the first Airbus A321XLR marks a transformative moment for Air Canada and the beginning of an exciting new era for our customers, industry partners, and colleagues,” said Mark Galardo, Executive Vice President and Chief Commercial Officer, and President of Cargo at Air Canada. “Today, we celebrate an aircraft that will unlock new destinations, improve service on existing markets, and enhance the onboard experience. For our premium customers, the A321XLR will offer the only lie-flat seats on a single-aisle aircraft for a Canadian carrier as it crosses the Atlantic and connects destinations across North America.” 

"ADM Aéroports de Montréal is pleased to mark the official launch of the A321XLR departing from YUL Montréal-Trudeau today. This next-generation aircraft is a core part of the development and expansion of Air Canada and YUL," said Yves Beauchamp, ADM's President and CEO. "This modern and versatile aircraft will open up new markets and strengthen Montréal’s international connectivity, in addition to bringing greater flexibility to existing routes."

“We are thrilled to celebrate this historic milestone alongside our long-standing partner Air Canada. As the first airline in Canada to operate the A321XLR, Air Canada is showcasing true leadership in fleet modernization,” said Colin, Bole, Senior Vice President Customers, North America, Airbus. “This aircraft is the perfect tool to support their network growth, seamlessly bridging the gap between short-haul and long-haul operations while delivering a 30% reduction in fuel burn per seat and the ability to operate with up to 50% neat Sustainable Aviation Fuel. We are proud to see our next-generation technology support Air Canada’s ambitions and operate on both new and already-existing non-stop transatlantic markets like Montréal to Toulouse in a more sustainable way.” 

Air Canada’s new Glowing Hearted cabin standard is making its debut on the A321XLR, offering calm, comfort and connectivity to customers. It features personal device power at every seat, fast, free Wi-Fi for Aeroplan Members United MileagePlus® members and Business Class passengers, sponsored by Bell. It also features a next-generation in-flight entertainment screens that are larger and offer Bluetooth connectivity, and thoughtfully curated cabin finishes inspired by the Canadian landscape and aligned to the airline’s brand and commitment to enduring quality.

To the 14 lie-flat seats in Air Canada Signature Class, the A321XLR has 168 Economy class seats, with every seat featuring seatback in-flight entertainment with 4K OLED IFE screens (13-inch in Economy, 19-inch in Signature Class) with Bluetooth audio.

The aircraft will operate several domestic flights prior to its first trans-Atlantic flight between Montréal and Toulouse on June 15.

Air Canada plans to integrate the A321XLR into its schedule progressively to support growth across its network. The aircraft’s performance and range characteristics are well suited to adjust for seasonal demand patterns and evolving market opportunities.

The arrival of the A321XLR is an important milestone and the latest step in Air Canada’s multi-year fleet modernization program, which is focused on customer experience, operational resilience and fuel efficiency improvements versus older-generation aircraft. It reflects the airline’s commitment to prudent growth, continuous product investment, and disciplined execution of Air Canada’s business plan. In addition to 30 A321XLRs (15 will be leased, 15 are being acquired directly from Airbus S.A.S) that are expected to enter the fleet over the coming years, Air Canada has announced orders for 14 Boeing 787-10 Dreamliners as well as eight A350-1000s. It also continues to take deliveries of the Canadian-built Airbus A220, with 21 aircraft remaining on its firm order of 65. Five Boeing 737 MAX aircraft have already been delivered in 2026.

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, excursions, and a variety of activities and experiences.  Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC).

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CAUTION REGARDING FORWARD-LOOKING INFORMATION 

This news release includes forward-looking statements within the meaning of applicable securities laws. Forward-looking statements relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These statements may involve, but are not limited to, comments relating to guidance, strategies, expectations, planned operations or future actions. Forward-looking statements are identified using terms and phrases such as "preliminary"; "anticipate"; "believe"; "could"; "estimate"; "expect"; "intend"; "may"; "plan"; "predict"; "project"; "will"; "would"; and similar terms and phrases, including references to assumptions. 

Forward-looking statements, by their nature, are based on assumptions including those described herein and are subject to important risks and uncertainties, which are amplified in the current environment. Forward-looking statements cannot be relied upon due to, among other things, changing external events and general uncertainties of the business of Air Canada. Actual results may differ materially from results indicated in forward-looking statements due to a number of factors, including those discussed below. 

Factors that may cause results to differ materially from results indicated in forward-looking statements include economic conditions, statements or actions by governments and uncertainty relating to the imposition of (or threats to impose) tariffs on Canadian exports or imports and their resulting impacts on the Canadian, North American and global economies and travel demand, geopolitical conditions such as the military conflicts in the Middle East and between Russia and Ukraine, Air Canada’s ability to successfully achieve or sustain positive net profitability, industry and market conditions and the demand environment, competition, Air Canada’s dependence on technology, cybersecurity risks, interruptions of service, climate change and environmental factors (including weather systems and other natural phenomena and factors arising from anthropogenic sources), Air Canada’s dependence on key suppliers (including government agencies and other stakeholders supporting airport and airline operations), employee and labour relations and costs, Air Canada’s ability to successfully implement appropriate strategic and other important initiatives (including Air Canada’s ability to manage operating costs), energy prices, Air Canada’s ability to pay its indebtedness and maintain or increase liquidity, Air Canada’s dependence on regional and other carriers, Air Canada’s ability to attract and retain required personnel, epidemic diseases, changes in laws, regulatory developments or proceedings, terrorist acts, war, Air Canada’s ability to successfully operate its loyalty program, casualty losses, Air Canada’s dependence on Star Alliance® and joint ventures, Air Canada’s ability to preserve and grow its brand, pending and future litigation and actions by third parties, currency exchange fluctuations, limitations due to restrictive covenants, insurance issues and costs, and pension plan obligations as well as the factors identified in Air Canada’s public disclosure file available at www.sedarplus.ca and, in particular, those identified in section 18 “Risk Factors” of Air Canada’s 2025 MD&A. 

Air Canada has and continues to establish targets, make commitments and assess the impact regarding climate change, and related initiatives, plans and proposals that Air Canada and other stakeholders (including government, regulatory and other bodies) are pursuing in relation to climate change and carbon emissions. The achievement of our commitments and targets depends on many factors, including the combined actions of governments, industry, suppliers and other stakeholders and actors, as well as the development and implementation of new technologies. In particular, our 2030 carbon emission-related targets and our related 2050 aspiration are ambitious and heavily dependent on new technologies, renewable energies and the availability of a sufficient supply of sustainable aviation fuels (SAF), which continues to present serious challenges. In addition, Air Canada has incurred, and expects to continue to incur, costs to achieve its goal of net-zero carbon emissions and to comply with environmental sustainability legislation and regulation and other standards and accords. The precise nature of future binding or non-binding legislation, regulation, standards and accords, on which local and international stakeholders are increasingly focusing, cannot be predicted with any degree of certainty, nor can their financial, operational or other impact. There can be no assurance of the extent to which any of our climate goals will be achieved or that any future investments that we make in furtherance of achieving our climate goals will produce the expected results or meet increasing stakeholder environmental, social and governance expectations. Moreover, future events could lead Air Canada to prioritize other nearer-term interests over progressing toward our current climate goals based on business strategy, economic, regulatory and social factors, and potential pressure from investors, activist groups or other stakeholders. If we are unable to meet or properly report on our progress toward achieving our climate change goals and commitments, we could face adverse publicity and reactions from investors, customers, advocacy groups or other stakeholders, which could result in reputational harm or other adverse effects to Air Canada. 

The forward-looking statements contained or incorporated by reference in this news release represent Air Canada's expectations as of the date of this news release (or as of the date they are otherwise stated to be made) and are subject to change after such date. However, Air Canada disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required under applicable securities regulations. 

Safety was not compromised by this incident because all pilots at Air Canada undergo mandatory recurrent training every six months to validate their flying competency, including a flight check with a certified Transport Canada check-pilot every 12 months. However, appropriate licencing is an essential layer of the airline industry’s multi-layered approach to safety, so Air Canada takes this matter with utmost seriousness. It has undertaken an audit of its pilot group and found no other instances of non-compliance. Also, pilot licences are cross-checked by a certified check pilot twice a year as part of the recurrent checks and training, and Air Canada has reinforced its administrative practices when physically verifying licences. This includes verifying the original documents issued by Transport Canada.

Throughout his employment with Air Canada, the individual in question was a fully trained pilot who held a valid Commercial Pilot Licence, and he successfully met or exceeded the required recurrent training, demonstrating a high level of competency to safely operate large aircraft.

However, although both captains and first officers are trained to operate aircraft, regulations require that captains of large aircraft operated by airlines in Canada hold an airline transport pilot licence (ATPL), obtained by passing a series of written exams. This individual, who had been promoted to captain, lacked the mandatory ATPL for the position. Immediately upon Air Canada’s discovery of this, the individual was removed from active duty, and the company voluntarily reported the matter to Transport Canada.

The former pilot is no longer employed by Air Canada.

Due to privacy law and an active criminal investigation, Air Canada is unable to provide further comment on this matter.

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, excursions, and a variety of activities and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC).

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• Establishes pathway to strategic partnership of Air Canada and Abra Group and a joint business agreement
• Customers will benefit from an improved travel experience, expanded loyalty benefits, and enhanced cargo services
• Enables revenue sharing and deeper commercial integration, including expanded codeshare

RIO DE JANEIRO, June 07, 2026 (GLOBE NEWSWIRE) -- Air Canada and Abra Group today announced they have signed a Memorandum of Understanding to develop a broad, long-term strategic partnership. The agreement between Canada’s largest airline and the Latin American air transport company, whose carriers include the Avianca and GOL brands, would enable the partners to expand their global reach, providing customers and shippers greater connectivity across North, Central and South America and beyond. Any final agreement is subject to final documentation and regulatory approval.

“Air Canada and Abra Group are building the foundations for an enhanced partnership that will further unlock the Americas. With Latin America acting as a fast-growing and strategic component of Air Canada’s global presence, our customers to and from the region have long benefited from existing codeshare partnerships with Abra Group. Building from a highly complementary presence across the Americas, this Memorandum of Understanding between our world-class airlines creates a pathway to further bolster our partnership, improve the customer experience, and enhance global connectivity. We look forward to working alongside Abra Group to deliver meaningful value to our customers and partners,” said Mark Galardo, Executive Vice President and Chief Commercial Officer, and President of Cargo at Air Canada.

Angus Clarke, Chief Commercial Officer at Abra commented: “This milestone agreement with Air Canada reinforces our ambition to redefine connectivity across the Americas and beyond. At Abra Group, we believe in building seamless, integrated networks that bring people, cultures, and economies closer together. Our complementary strengths with Air Canada expand travel options and create a more connected hemisphere, unlocking new opportunities for our customers, our partners, and the regions we serve. This is a significant step toward shaping a more accessible and dynamic aviation ecosystem.”

Mary-Jane Lorette, Vice President, Revenue Management, Partnerships and International Affairs at Air Canada, added: “The Canada–South America market is accelerating, and we are investing to capture this momentum, expanding into key markets such as Lima, Santiago and Rio de Janeiro, with further growth ahead in Quito while building on our strong foundation with Avianca through Star Alliance and our long-standing collaboration with GOL to shape connectivity across the Americas and unlock greater value for our customers.”

Partnership highlights

Under the proposed strategic partnership, which is subject to the negotiation of final documentation and regulatory approval, Air Canada and Abra would:

• Expand global reach by strengthening connectivity between Canada and key Latin America markets, with broader access to international markets;
• Deepen commercial integration through coordinated sales and distribution;
• Establish a Joint Business Agreement on select Canada-Latin America routes, to enable deeper commercial integration;
• Expand codeshare cooperation across the Americas and beyond, including for travel between Latin America and other international markets via Canadian gateways;
• Enhance the Customer Experience to provide more seamless travel, including coordinated airport services, smoother connections, aligned baggage policies, and improved disruption management;
• Strengthen frequent flyer cooperation, delivering increased earning and redemption opportunities and improved recognition across both networks;
• Explore greater cargo collaboration, including opportunities to offer more seamless and efficient solutions across key markets in the Americas in support of growing trade flows.

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, excursions, and a variety of activities and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC) in Canada and the OTCQX (ACDVF) in the US.

About Abra Group

Abra is a leading air transportation company across Latin America that brings together the iconic Avianca and GOL airline brands, along with a strategic investment in Wamos Air, on a unified, pan-Latin American platform. The Company also encompasses leading loyalty programs (LifeMiles and Smiles) and robust cargo operations. In addition, Abra holds convertible debt representing a minority ownership interest in Sky Airline.

Avianca, the second-oldest airline in the world, operates a fleet primarily comprised of A320 and B787 passenger aircraft, as well as cargo aircraft. GOL, one of Brazil's leading airlines, operates a fleet largely composed of B737 passenger aircraft. Wamos Air is a leading European provider of wide-body Aircraft, Crew, Maintenance and Insurance (ACMI) services, operating A330 passenger aircraft. Abra has approximately 30,000 employees and operates a fleet of more than 300 aircraft, with scheduled flights serving more than 25 countries and over 145 destinations. For more information, visit www.abragroup.net

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MONTRÉAL, June 04, 2026 (GLOBE NEWSWIRE) -- Air Canada’s Aeroplan has again been recognized as a leading travel loyalty program, earning three top honours at the 35th annual Freddie Awards in the Americas region: Program of the Year, Best Redemption Ability, and Best Promotion for its Accelerate Your Way to Status campaign. This marks Aeroplan’s fourth consecutive winning year at the Freddie Awards.

"We’re incredibly proud to be recognized once again at the prestigious Freddie Awards," said Scott O’Leary, Vice President, Loyalty & Product at Air Canada. "This honour is especially meaningful to us because it’s voted on by our members whose loyalty and feedback continue to guide us. This is also a testament to our dedicated Aeroplan team, whose tireless work and commitment ensure we continue to deliver a best-in-class program for our members."

The Freddie Awards are the travel loyalty industry’s most respected honours, based on votes from millions of frequent flyers worldwide. Founded in 1988 by Inside Flyer’s Randy Peterson and named for British aviation pioneer Sir Freddie Laker, the awards recognize loyalty programs for excellence in customer service, value, and innovation. This year’s winners were announced on the Miles to Go podcast on May 29, 2026.

“Air Canada Aeroplan won recognition from frequent flyers for offering the Best Promotion, Best Redemption Ability, and was voted Program of the Year in the Americas,” said Gary Leff, Co-Organizer of the Freddie Awards. “On a consistent basis, Aeroplan provides reasonably priced awards. They don’t add fuel surcharges to Air Canada redemptions, and you can easily book your awards on their website. They even have more airline partners to redeem with than anybody else. Their members clearly recognize the outstanding value in being a part of the Aeroplan program."

This recognition reflects Aeroplan's commitment to delivering an industry-leading member experience. The Program of the Year win is a testament to the program's easy-to-use digital tools and extensive global partner network. The award for Best Redemption Ability highlights a core promise: giving members access to flight rewards, including every available seat on Air Canada flights with no blackouts or carrier surcharges. Finally, the Best Promotion win for the Accelerate Your Way to Status campaign underscores Aeroplan's commitment to creating innovative and accessible ways for members to earn rewards and achieve elite status.

About Aeroplan

Air Canada’s Aeroplan is Canada’s leading travel loyalty program, with more than 10 million active members worldwide. Aeroplan Members can earn or redeem points with over 50 airlines to 1,300+ destinations globally, without blackouts or surcharges. Redeem for one-way short-haul flights starting at 6,000 points, Air Canada Vacations packages, and 9,000+ hotel partner properties, or shop brands like Amazon, Apple, and Dyson via the Aeroplan eStore, with redemptions starting at 3,500 points. To join Aeroplan and start turning daily purchases into points for flights, hotel stays, gifts and more, visit aircanada.com/aeroplan.  

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, excursions, and a variety of activities and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC).

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• Airline’s Cabin-Ready Canines program gives customers whose service dogs were trained outside a recognized organization a new path to certification for travel
• Currently available in Ontario and Quebec, K-9 Country Inn independently assesses service dogs currently without certification issued by recognized organizations needed for travel

MONTRÉAL, June 02, 2026 (GLOBE NEWSWIRE) -- Air Canada today, in partnership with K-9 Country Inn, launched Cabin-Ready Canines, a new, industry-leading initiative to enable customers with owner-trained service dogs to travel with confidence on Air Canada flights.

At present, many customers with service dogs that are owner-trained or were trained outside a recognized organization do not have an official way of confirming their dog’s required training status to travel with Air Canada. There is no single, country-wide service dog certification standard, and certification programs are not available in all provinces.

Air Canada’s partnership with K-9 Country Inn, a respected Canadian non-profit organization with more than 40 years of dog training expertise and dedicated service dog training and assessment experience since 2013, provides a solution for travellers who require service dog certification for air travel through independent assessment and evaluation.

“Service dogs play a vital role in customer independence, and we are so pleased to be launching this partnership with K-9 Country Inn. Guided by feedback from the disability community, we have worked closely with K-9 Country Inn and their expert trainers who are also people with disabilities, to take a leadership position by building a practical solution to a complex accessibility challenge. Through our Cabin-Ready Canines program, we hope to demonstrate that feasible solutions are possible, enabling more customers with service dogs to travel with dignity and confidence,” said Kerianne Wilson, Director, Customer Accessibility at Air Canada.

“Owner-trained service dogs support the independence of countless Canadians, yet a consistent path to demonstrate that these dogs meet the standards required for safe public access has long been lacking. With Air Canada’s Cabin-Ready Canines program, we’re proud to offer an independent, credible assessment that protects the public and legitimate service dog teams. Our organization is deeply committed to ensuring safe, accessible and barrier-free travel for all teams. This partnership reflects our shared dedication to providing the assurance they need to move through the world without obstacles,” said Laura MacKenzie, founder and CEO of K-9 Country Inn.

“As a trainer and a person with a disability, I witness firsthand the profound impact a well-trained service dog can have, as well as the stress caused when no certification options exist. This program fills a real gap. By assessing owner-trained dogs to the same standards used across the service dog community, we’re helping travellers prove their dog’s readiness while ensuring safety for everyone on board. It’s incredibly rewarding to help more teams move through the world with the independence they deserve,” said Brit Williams, a service dog handler for 13 years, and who is also Senior Instructor & Trainer with K-9 Country.

How Air Canada’s Cabin- Ready Canines program works:

• Air Canada’s Accessibility Services team will refer eligible customers to K-9 Country Inn for an independent assessment. Air Canada is not involved in the evaluation itself. There is a fee for this assessment which is managed by K-9 Country Inn. 
  
   
• Once a dog passes the assessment evaluation, the customer receives an official K-9 Country Inn certification and photo ID card, which Air Canada’s agents can verify through K-9 Country Inn’s database.
  
   
• This verified record becomes proof of travel eligibility and is valid for two years, allowing the customer to follow Air Canada’s standard booking process.
  
   
• The program delivers meaningful impact through a fast-track process and secure database, providing reassurance for eligible customers.
  
   
• Importantly, the program is valid for both domestic and international travel, underscoring its scope and reach. Travel to and from the United States is not in scope as documentation requirements are governed by applicable U.S. legislation.
  
   
• Currently, K-9 Country Inn offers testing in English and French, in the Toronto and Montréal areas. They will monitor demand for other markets that are not currently served by government certification programs for owner-trained service dogs. 
  
   
• The program is being aligned with similar processes used in British Columbia, Alberta and Nova Scotia. All dogs holding provincial certification, as well as those trained through ADI, IGDF or other approved organizations, are exempt from completing this assessment.
  
   

Learn more about Air Canada’s Cabin-Ready Canines program
Learn more about our Accessibility services and initiatives

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance^®, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, excursions, and a variety of activities and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC) in Canada and the OTCQX (ACDVF) in the U.S.

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• Highlights ongoing work, commitments and continued advancement in reducing barriers in travel and employment for persons with disabilities

MONTRÉAL, June 01, 2026 (GLOBE NEWSWIRE) -- Air Canada today published its Accessibility Plan 2026–2029, outlining the airline’s progress since its inaugural 2023 plan along with its future-focused three-year plan to continually reduce barriers in travel and employment for persons with disabilities.

Air Canada’s Accessibility Plan details objectives, ongoing work and progress in improving accessibility at the airline across the focus areas of the Accessible Canada Act. Guided by research and consultations with experts, travellers and employees, the plan outlines 157 customer and employee accessibility initiatives.

“Air Canada is committed to championing accessibility in the travel industry by designing our products, services and employment practices so more people can access the services and opportunities we offer. We have made significant progress over the past three years, which has been possible in great part through establishing constructive relationships with national disability organizations, undertaking customer and employee focus groups and creating a robust accessibility advisory committee to pair expert insight with customer and employee experience.” said Michael Rousseau, President and Chief Executive Officer at Air Canada.

“We further created a Diverse Abilities Employee Resource Group to ensure employees with disabilities help shape how we remove barriers and design a more accessible workplace. We recognize existing barriers are complex and substantial, but we are determined to continue the important work of strengthening and advancing safe, dignified travel and an inclusive employment experience for people with disabilities,” continued Mr. Rousseau.

“Building on the foundation of our inaugural 2023 plan, our 2026–2029 plan identifies near- and long-term commitments with clear, actionable commitments to identify, prevent and remove barriers over the next three years. Our priorities reflect what we heard from people with disabilities and where we can make the greatest impact,” stated Kerianne Wilson, Director, Customer Accessibility at Air Canada.

“By bringing lived experience into our decision-making, the Diverse Abilities Employee Resource Group is strengthening our ability to build inclusive policies, improve supports and foster greater trust and belonging. Ultimately, it’s helping us create an environment where every employee feels empowered to contribute fully and thrive,” said Christianna Scott, Director, Diversity, Equity and Inclusion & Employee Accessibility at Air Canada.

“Accessibility isn’t just about ramps and washrooms. It’s about ensuring every person can participate fully in their community with true independence and freedom,” said Meghan Hines, Chair of Air Canada’s Accessibility Advisory Committee. “When we design for everyone, we build places where people don’t just get access, they get to belong.”

Highlights of Air Canada’s 2026–2029 Accessibility Plan include:

• Improving the experience for customers who use power wheelchairs, such as flight options and automations, complemented by digital tracking and notifications.
• Collaborating with our partners to drive change across the flight experience, including the Accessibility Advisory Committee, airports, Canadian Air Transport Security Authority, aircraft and mobility aid manufacturers and other airlines.
• Improving the availability and quality of accessibility equipment, including passenger lifts, slings and aisle chairs.
• Improving boarding, deplaning and transfer support, including at smaller airports.
• Expanding mandatory, recurrent accessibility training grounded in lived experience.
• Improving recruitment, hiring and internships to increase employment of people with disabilities.
• Streamlining and automating workplace accommodation processes.
• Improving accessibility of office spaces, lounges and aircraft interiors.
• Embedding accessibility into digital systems, apps, websites and internal tools.
• Integrating accessibility requirements into procurement, vendors and supplier contracts.
  
   

Read Air Canada’s Accessibility Plan 2026–2029
Learn more about our Accessibility services and initiatives

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance^®, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, excursions, and a variety of activities and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC) in Canada.

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MONTRÉAL, May 25, 2026 (GLOBE NEWSWIRE) -- The Air Canada Foundation today released its 2025 Impact Report, outlining the meaningful difference it made in communities across Canada through its charitable partnerships, fundraising initiatives and the engagement of Air Canada employees countrywide.

Through its programs and collaborations with Canadian-registered charities, the Foundation remains committed to improving the health and well-being of children and youth. Its work is guided by three core pillars: Health, supporting pediatric hospitals and community organizations to improve health outcomes; Protection, addressing socio-economic adversity and the impacts of trauma so children can experience a healthy childhood; and Dreams, fostering hope and resilience for seriously ill, impoverished or vulnerable children.

“In 2025, the Air Canada Foundation continued to strengthen its impact for children and families across the country, something we, at Air Canada, are all deeply proud of,” said Michael Rousseau, President and Chief Executive Officer at Air Canada. “A heartfelt thank you to our steadfast partners, generous donors, dedicated Air Canada employees and retirees who play an essential role in helping us deliver meaningful support where it is needed most.”

“Our 2025 impact report reflects what becomes possible when compassion and collaboration come together”, said Louise-Hélène Sénécal, Chair, Air Canada Foundation. “Across the country, we are proud to support children and youth in accessing essential medical care, feeling safe and supported, and experiencing moments that open new possibilities. I’d like to thank our previous Chair, Priscille LeBlanc, for her commitment, vision and leadership, which helped make this year’s success possible. I look forward to carrying this work forward, alongside our dedicated partners, donors, employees and volunteers, who continue to support children and youth in reaching their full potential.”

In 2025, the Foundation raised $2.1 million, including $1.3 million net from its annual fundraising golf tournament. It also raised 42 million Aeroplan points, with 27.5 million donated during Aeroplan’s annual Points Matching Week. These points fuel the Foundation’s Hospital Transportation Program, which helps connect sick children to essential medical care across Canada. Nearly $1.8 million was invested directly into communities countrywide.

The Foundation also responded to eight humanitarian crises, supporting appeals, donating airline tickets and helping deploy three humanitarian partners and networks for emergency response.

Working alongside 473 charitable partners, the Foundation delivered programs that directly supported children and families. In 2025, it:

• hosted seven Autism Aviation Day events, supporting more than 130 families as children on the autism spectrum experienced the full pre-flight process in a supportive environment
  
   
• provided 605 trips through the Hospital Transportation Program to help children access essential medical care
  
   
• realized 1,113 dreams for children and youth 
  
   
• supported more than 550,000 meal deliveries to address food insecurity
  
   

Air Canada employees continued to play a vital role in advancing the Foundation’s mission. In 2025, employees donated more than $70,000 and over 900 employees volunteered at 28 events across the country.

To learn more about the Air Canada Foundation and its 2025 Impact Report, follow @fondation_aircanada_foundation on Instagram or visit aircanada.com/foundation.

About the Air Canada Foundation

The Air Canada Foundation, a not-for-profit organization focused on the health and well-being of children and youth, was launched in 2012. It offers both financial and in-kind support to Canadian-registered charities. Core programs include the Hospital Transportation Program (HTP), which redistributes Aeroplan points to partners of the Air Canada Foundation HTP, including 15 pediatric hospitals across the country, Hope Air and the David Foster Foundation. All donated points enable sick children to access the medical care they need away from home. The Air Canada Foundation, in collaboration with the airline, also engages directly in fundraising activities, such as the Every Bit Counts program, which encourages customers to donate loose change of all denominations on board flights or through collection containers available in Air Canada Maple Leaf Lounges. The Foundation also offers continued support to major health-related causes that benefit Canadians and is an active participant in international humanitarian relief activity as the need arises. For more information about the Air Canada Foundation, please read the 2025 Impact Report.

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, excursions, and a variety of activities and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC) in Canada and the OTCQX (ACDVF) in the US.

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MONTREAL, May 22, 2026 (GLOBE NEWSWIRE) -- Air Canada today said it has reached a tentative collective agreement with Unifor, representing approximately 6,000 contact centre, customer relations, concierge, airport in-terminal and customer journey management employees at Air Canada.

The tentative agreement recognizes the contributions and professionalism of Air Canada's frontline airport and customer service agents, while providing a framework for the future growth of the airline. Terms of the new agreement will remain confidential pending a ratification vote by the membership, expected to be completed over the next month, and approval by the Air Canada Board of Directors.

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, excursions, and a variety of activities and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC) in Canada and the OTCQX (ACDVF) in the US.

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MONTRÉAL, May 21, 2026 (GLOBE NEWSWIRE) -- This month marks the 20^th anniversary of the Aeroplan Member Donation Program. For two decades, the program has empowered approved Canadian charities to set fundraising goals and redeem donated points for air travel, hotel stays, car rentals, merchandise, and more. Charities also use donated points to support fundraising activities, including offering travel or redeemed merchandise as prizes.

“Since 2006, Aeroplan Members have donated more than 1.8 billion points to 1,554 charitable organizations, helping to fund critical travel, essential goods, and community-building initiatives,” said Craig Landry, Executive Vice President & Chief Innovation Officer at Air Canada and President of Aeroplan. “The scale of this impact speaks to the power of collective giving. As we celebrate two decades of the Aeroplan Member Donation Program, we remain committed to helping charities reach farther and do more.”

Today, more than 100 active charities participate in the program, supported by 11 corporate partners, including three original partners that have remained since 2006: the Air Canada Foundation, Médecins Sans Frontières/Doctors Without Borders, and the Stephen Lewis Foundation.

Key milestones from the program’s 20-year history include:

• Program launch in 2006, establishing one of Canada’s first loyalty-based charitable giving platforms
• Over 1.8 billion points donated to date, supporting 1,554 charitable organizations
• 11 corporate partnerships, including three original partners still active today
• More than 100 active charities are currently receiving Aeroplan point donations
• Points Matching Week, introduced in 2010, enables members to double their impact, with Aeroplan matching up to 500,000 points per campaign
  • Since its inception, over 350 million points have been donated during Points Matching Weeks.
    
     

Aeroplan has several Points Matching Weeks currently planned throughout the remainder of 2026, giving members the opportunity to amplify their impact:

• War Child Canada: May 25-31
• Indspire: June 15–21, 2026
• Welcoming Initiative for Newcomers (WIN): July 6–12, 2026
• The Canadian Centre to End Human Trafficking: July 27–August 2, 2026
• Second Harvest: September 7–13, 2026
• Air Canada Foundation’s Hospital Transportation Program: October 5–11, 2026
• Rainbow Railroad: November 9–15, 2026
• Give a Mile: December 7–13, 2026
  
   

Charities interested in joining the program can apply here. Additional details are available in the Aeroplan Donation Program FAQ.

About the Air Canada Foundation

The Air Canada Foundation, a not-for-profit organization focused on the health and well-being of children and youth, was launched in 2012. It offers both financial and in-kind support to Canadian-registered charities. Core programs include the Hospital Transportation Program (HTP), which redistributes Aeroplan points to partners of the Air Canada Foundation HTP, including 15 pediatric hospitals across the country, Hope Air and the David Foster Foundation. All donated points enable sick children to access the medical care they need away from home. The Air Canada Foundation, in collaboration with the airline, also engages directly in fundraising activities, such as the Every Bit Counts program, which encourages customers to donate loose change of all denominations on board flights or through collection containers available in Air Canada Maple Leaf Lounges. The Foundation also offers continued support to major health-related causes that benefit Canadians and is an active participant in international humanitarian relief activity as the need arises. For more information about the Air Canada Foundation, please read the 2024 Impact Report.

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, excursions, and a variety of activities and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC) in Canada and the OTCQX (ACDVF) in the US.

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• Partnership builds upon Aeroplan’s commitment to make travel more rewarding
• Members can earn up to 5 Aeroplan points per dollar spent on car rentals with Hertz®, Dollar®, and Thrifty®, and unlock premium perks and benefits
• For every 5 Aeroplan points earned, members will receive one Status Qualifying Credit (SQC), bringing them closer to Aeroplan Status
• All Aeroplan Elite Members and select Aeroplan Credit Cardholders get complimentary Five Star® or President’s Circle® status in Hertz Gold+ ^TM loyalty program
  
   

MONTRÉAL, May 06, 2026 (GLOBE NEWSWIRE) -- Aeroplan, Canada's leading travel loyalty program, has announced a new strategic partnership with Hertz, one of the world’s largest vehicle rental companies. This collaboration extends across Hertz, Dollar, and Thrifty, and is the latest example of Aeroplan’s commitment to expanding its partner ecosystem, providing members with more opportunities to earn rewards, unlock premium benefits, and accelerate their journey to Aeroplan Elite Status.

“Car rentals are a natural part of the travel journey, and we’re thrilled to give Aeroplan members more ways to earn and redeem points, while unlocking new benefits along the way,” said Scott O’Leary, Vice President of Loyalty & Product at Air Canada. “Partnering with Hertz is one of the ways we are delivering on the promise we made when we redesigned Aeroplan, providing choice, convenience, and value that extends their loyalty from the air to the road.”

In addition to new earning opportunities, this partnership unlocks preferred pricing for all Air Canada customers, when reserving car rentals through aircanada.com.

“We’re delighted to partner with Air Canada to deliver even more value to Aeroplan members when they rent from Hertz, Dollar or Thrifty,” said Laura Smith, Executive Vice President, Global Sales and Partnerships at Hertz. “Together, we’re providing premium benefits that will make for a more seamless and rewarding travel experience all around.”

Through this new partnership, Aeroplan Members can access the following benefits:

• Aeroplan members earn 2 points per $1* spent on car rentals with Hertz, Dollar and Thrifty.

• Aeroplan Elite 25K, 35K, and 50K members earn 3 points per $1* spent on Hertz car rentals; Elite 75K members earn 4pts per $1* spent on Hertz car rentals; Super Elite members earn 5pts per $1* on Hertz car rentals.

• Members receive 1 Status Qualifying Credit (SQC)** for every 5 Aeroplan points earned on car rentals.

• Aeroplan Elite 25K, 35K, and 50K members, along with Aeroplan Core Credit Cardholders, receive complimentary Five Star status in the Hertz Gold+ program⁺.

• Aeroplan Elite 75K and Super Elite members, along with Aeroplan Premium Credit Cardholders, receive complimentary President’s Circle status in the Hertz Gold+ program^+.
  
   

For full details on Aeroplan’s partnership with Hertz and available member benefits, visit here.

More ways to earn and redeem, every day
 

Aeroplan is widely regarded as one of the leading travel loyalty programs in North America. Aeroplan Members can earn or redeem points on more than 50 airlines to 1,300+ destinations globally. Redeem for flights with no blackouts or surcharges, access thousands of hotel properties via Aeroplan HotelSavers, or shop for brands like Amazon and Apple at the Aeroplan eStore.

To join Aeroplan’s community of more than 10 million active members, visit aircanada.com/aeroplan.

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, excursions, and a variety of activities and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC) in Canada and the OTCQX (ACDVF) in the US.

About Hertz
Hertz Global Holdings, Inc. is one of the world’s leading car rental and mobility solutions providers. Its subsidiaries, including The Hertz Corporation, and licensees operate the Hertz, Dollar, Thrifty, and Firefly vehicle rental brands, with more than 11,000 rental locations in 160 countries around the globe. The Company also operates the Hertz Car Sales brand, which offers a range of quality, competitively priced used cars for sale online and at locations across the United States, and the Hertz 24/7 car-sharing business in Europe. For more information about Hertz, visit www.hertz.com

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^{*Spend is calculated based on actual time & mileage cost of a vehicle rental, plus amounts payable in connection with ancillaries, vehicle upgrades, fees or surcharges but does not include taxes. If the rental is paid for in a currency other than Canadian dollars, the spend will be converted into CAD and the number of points will be calculated accordingly}

^{** Only Aeroplan base points are eligible for SQC accumulation. Bonus points earned as part of promotions do not count towards SQC.}

^{+Terms and Conditions apply. For more details on the Hertz status grant for Aeroplan Elite members and select credit cardholders see here.}

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MONTRÉAL, May 05, 2026 (GLOBE NEWSWIRE) -- In observance of Red Dress Day in Canada, Air Canada is marking the day by sharing a video created to honour Missing and Murdered Indigenous Women, Girls, and Two-Spirit peoples (MMIWG2S+).

The video, “Spirit Woman” forms part of Air Canada’s ongoing commitment to supporting Indigenous communities and amplifying Indigenous voices, and was released on Air Canada’s website, social media, communications channels and to its global audience via its inflight entertainment system.

“Air Canada’s path to Truth and Reconciliation focuses on raising awareness and fostering meaningful action to support Indigenous communities across the country,” said Jim Sa’ke’j Hemsworth, Partner, Indigenous Relations & Reconciliation at Air Canada. “We recognize that reconciliation is an ongoing journey. By creating this campaign and sharing this message through our global reach, we hope to honour the voices of Indigenous Peoples with care and respect, while inviting audiences to learn about the national crisis of MMIWG2S+, its history and ongoing impact.”

This video was directed by Apollonia Productions, founded by award-winning Indigenous filmmaker Apolla Echino (a Member of the Métis Nation of Alberta, Canada) and features contributions from Indigenous creators, including Cambria Harris, daughter of the late Morgan Harris, MMIWG2S+ advocate and Jaime Black, artist, author, founder of the REDress Project, whose work has played a significant role in bringing visibility to the lives and stories of Indigenous women, girls, and Two-Spirit peoples who have been taken or lost. Their perspectives help ground the project in authenticity, remembrance, and community-led expression.

While the REDress Project is acknowledged for its cultural impact, the focus of this initiative remains centred on the broader message: that awareness is a meaningful step toward healing, reconciliation, and a more equitable future.

Air Canada recognizes that Reconciliation is a journey, and is committed to learning, consulting and fostering respectful relationships. With a network that crosses many treaty lands as well as unceded and traditional territories of Indigenous nations and governments on Turtle Island (North America), Air Canada recognizes the ancestral and traditional lands of the Indigenous Peoples it operates on and flies over. Air Canada believes that awareness and education can spark understanding, empathy, and action. With this campaign, the airline hopes to deepen national and global understanding of the challenges faced by Indigenous communities and inspire people to support reconciliation efforts in meaningful ways.

To learn more about the Missing and Murdered Indigenous Women, Girls, and Two-Spirit peoples (MMIWG2S+), visit: https://www.mmiwg-ffada.ca/

To learn more about the Redress Project: https://www.jaimeblackartist.com/exhibitions/.

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, excursions, and a variety of activities and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC) in Canada and the OTCQX (ACDVF) in the US.

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All nominees were serving as directors of Air Canada, except for Ms. Rachel Notley and Mr. Eric La Flèche who were standing for election for the first time. “We are delighted to welcome Rachel and Eric to our board. Their addition reflects our commitment to board renewal and builds on our existing strengths,” said Vagn Sørensen, Air Canada Board Chair. “We look forward to benefiting from their experience and expertise.”

The results of the vote appear below, expressed as percentages of the votes cast.

We provide biographical notes about all our directors at aircanada.com. Information regarding all voting matters at Air Canada's annual meeting is available in our management proxy circular dated March 19, 2026, on our website and on SEDAR+. Final results on all voting matters will be filed on SEDAR+.

About Air Canada

Air Canada is Canada's largest airline, the country’s flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, excursions, and a variety of activities and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC) in Canada and the OTCQX (ACDVF) in the US.

Air Canada’s 2025 Modern slavery, forced labour and human trafficking report is available on our website at aircanada.com.

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• Delivered record first quarter operating revenues of $5.8 billion driven by strong demand across the network
• Operating income of $117 million and record first quarter adjusted EBITDA* of $623 million
• Generated $1.8 billion in net cash flows from operating activities and $1.6 billion in free cash flow*
• Suspended full-year 2026 guidance and introduced second quarter 2026 financial guidance providing near-term visibility
• Demand remains solid and resilient amid elevated geopolitical instability

MONTRÉAL, April 30, 2026 (GLOBE NEWSWIRE) -- Air Canada today reported its financial results for the first quarter of 2026 and provided financial guidance for the second quarter 2026. Given the volatility and uncertainty in relation to jet fuel prices for the second half of the year, Air Canada has suspended its full‑year 2026 financial guidance.

“In the first quarter, Air Canada built on the momentum of our best-ever fourth quarter to launch strongly into 2026. We reported record operating revenues of $5.8 billion, up more than 11 per cent from the same period in 2025. Our operating income of $117 million was a positive $225 million swing from a year ago, and we generated record adjusted EBITDA of $623 million, up 61%. These results show the efficacy of our strategy and the dedication of our employees, whom I thank for their hard work,” said Michael Rousseau, President and Chief Executive Officer.

“We are committed to maintaining a strong financial footing while delivering long-term shareholder value. During the quarter, we generated $1.8 billion in cash from operating activities, $1.6 billion in free cash flow and repurchased more than $140 million of our shares. This performance reflects our prudent approach to capital allocation and balance sheet management, allowing us to invest in the business, manage debt and return capital to shareholders while preserving financial flexibility.

“Supported by solid demand, our second quarter 2026 guidance reflects our expectation to offset between 50 per cent and 60 per cent of the estimated incremental fuel expense through various commercial and cost actions. We continue to see strong demand across the network and throughout the booking window for the latter half of the year. I believe Air Canada is very well positioned from a financial, fleet and network perspective. As evidenced by two consecutive record quarters, the airline is performing well and the team is consistently executing on our long‑term strategy,” said Mr. Rousseau.

_{*Adjusted CASM, adjusted EBITDA (earnings before interest, taxes, depreciation, amortization and impairment), adjusted EBITDA margin, leverage ratio, net debt, adjusted pre-tax income (loss), adjusted net income (loss), adjusted earnings (loss) per share – diluted, and free cash flow are referred to in this news release. Such measures are non-GAAP financial measures, non-GAAP ratios, or supplementary financial measures, are not recognized measures for financial statement presentation under GAAP, do not have standardized meanings, may not be comparable to similar measures presented by other entities and should not be considered a substitute for or superior to GAAP results. Leverage ratio of 1.3 at March 31, 2025. Adjusted EBITDA and operating income for the trailing 12-month periods ended March 31, 2026 were $3.360 billion and $1.143 billion, respectively ($3.520 billion and $1.144 billion, respectively for the trailing 12-month periods ended March 31, 2025). Refer to the "Non-GAAP Financial Measures" section of this news release for descriptions of these measures, and for a reconciliation of Air Canada non-GAAP measures used in this news release to the most comparable GAAP financial measure.}

First Quarter 2026 Financial Results

• Operating revenues of $5.785 billion

• Operating expenses of $5.668 billion

• Operating income of $117 million with an operating margin of 2.0% and record adjusted EBITDA of $623 million with an adjusted EBITDA margin* of 10.8%

• Income before income taxes of $123 million and adjusted pre-tax income* of $18 million

• Net income of $48 million and diluted earnings per share of $0.16

• Adjusted net loss* of $16 million and adjusted loss per diluted share* of $0.05

• Adjusted CASM* of 16.11 cents

• Net cash flows from operating activities of $1.798 billion and free cash flow of $1.604 billion

• Long-term debt and lease liabilities of $12.301 billion and net leverage ratio* of 1.4x
   

Outlook

Given ongoing disruption in global energy markets caused by recent developments in the Middle East and the significant volatility in jet fuel prices, the reliability of any fuel forecast for the second half of 2026 is materially reduced. Air Canada has determined that suspending its full year 2026 guidance and providing financial guidance for the second quarter of 2026 is more appropriate in the current environment.

Air Canada’s financial guidance for the second quarter of 2026 is as follows:

Major Assumptions

Air Canada made assumptions in providing its guidance—including current demand trends continuing for the second quarter of 2026 and that the Canadian dollar will trade, on average, at C$1.36 per U.S. dollar for the second quarter of 2026. Air Canada is assuming that the price of jet fuel will average at approximately C$1.28 per litre for the second quarter of 2026, which includes an estimated hedging gain of C$0.21 per litre. Our assumption is based on the forward curve as of April 28, 2026, adjusted to reflect Air Canada's specific supply chain environment, including Air Canada's fuel infrastructure at Canadian hubs, where fuel is typically contracted and received on a one- to two-month forward basis, as well as pricing exposure at international station locations. These jet fuel estimates reflect Air Canada’s capacity plans and remain subject to ongoing volatility in global energy markets.

Air Canada also assumes it can offset between 50 to 60 per cent of the estimated incremental jet fuel expense above prior assumptions for the second quarter of 2026, which includes the expected hedging gains in the quarter.

Air Canada’s guidance constitutes forward-looking information within the meaning of applicable securities laws and is subject to important risks and uncertainties, including in relation to statements or actions by governments and uncertainty relating to the imposition of (or threats to impose) tariffs on Canadian exports or imports and their resulting impacts on the Canadian, North American and global economies and travel demand. In addition, aircraft fuel prices have been, and continue to be, subject to high volatility as a result of the ongoing conflict in the Middle East. Moreover, there has been significant disruption to international shipping trade routes through the Strait of Hormuz, further exacerbating the impact on fuel supply and prices, including for aircraft fuel. A prolonged or escalating conflict could further disrupt global energy markets and cause aircraft fuel prices to remain elevated or raise even higher. We cannot predict future supply constraints, price volatility or cost of aircraft fuel, or how long current or future conflicts will last or their ultimate impact on global energy markets and across the aviation industry. Please see the discussion below under Caution Regarding Forward-looking Information.

2028 targets and 2030 aspirations

Air Canada announced the following long-term 2028 financial targets and 2030 aspirations in December 2024:

^*Adjusted EBITDA (earnings before interest, taxes, depreciation, amortization and impairment), adjusted EBITDA margin, net cash flows from operating activities as a percentage of adjusted EBITDA, additions to property, equipment and intangible assets as a percentage of operating revenues, free cash flow margin and return on invested capital are referred to in this news release. Such measures are non-GAAP financial measures, non-GAAP ratios, or supplementary financial measures, are not recognized measures for financial statement presentation under GAAP, do not have standardized meanings, may not be comparable to similar measures presented by other entities and should not be considered a substitute for or superior to GAAP results. Refer to the "Non-GAAP Financial Measures" section of this news release for descriptions of these measures, and for a reconciliation of Air Canada non-GAAP measures used in this news release to the most comparable GAAP financial measure.

The 2028 long-term targets and 2030 aspirations provided in this news release do not constitute guidance or outlook but rather are provided for the purpose of assisting the reader in measuring progress toward Air Canada’s objectives. Readers are cautioned that these targets and aspirations may change as conditions evolve and are referred to the assumptions, risks and uncertainties described in the 2024 Investor Day presentations which are available in the events section at aircanada.com/investors and elsewhere in this news release, including assumptions relating to demand trends, jet fuel supply, prices and forward curves, the ability to significantly recapture elevated fuel prices, increasing revenues, growing fleet and network capacity, and successfully executing on other key investments and initiatives.

Non-GAAP Financial Measures

Below is a description of certain non-GAAP financial measures and ratios used by Air Canada to provide readers with additional information on its financial and operating performance. Such measures are not recognized measures for financial statement presentation under GAAP, do not have standardized meanings, may not be comparable to similar measures presented by other entities and should not be considered a substitute for or superior to GAAP results. The non-GAAP financial measures or ratios described in this section typically have exclusions or adjustments that include one or more of the following characteristics, such as being highly variable, difficult to project, unusual in nature, significant to the results of a particular period or not indicative of past or future operating results. These items are excluded because the company believes these may distort the analysis of certain business trends and render comparative analysis across periods less meaningful and their exclusion generally allows for a more meaningful analysis of Air Canada’s operating expense performance and may allow for a more meaningful comparison to other airlines.

Air Canada excludes the effect of impairment of assets, if any, when calculating adjusted CASM, adjusted EBITDA, adjusted EBITDA margin, adjusted pre-tax income (loss) and adjusted net income (loss) as it may distort the analysis of certain business trends and render comparative analysis across periods or to other airlines less meaningful. Air Canada did not record charges for impairment of assets in the first quarter of 2026, the full year 2025 or 2024.

A charge of $34 million was recorded in the third quarter of 2024 in other operating expenses related to estimated costs associated with contractual lease obligations. Air Canada excluded this expense in computing adjusted CASM, adjusted EBITDA, adjusted pre-tax income and adjusted net income.

In 2025 Air Canada recorded a one-time pension past service cost and other labour related charges of $194 million, including from the pension plan amendments made in conjunction with the collective agreement reached with the Canadian Union of Public Employees (CUPE) and an operating expense related to the streamlining of Air Canada’s management structure. In 2024, with ratification of the collective agreement with the Air Line Pilots Association (ALPA), Air Canada recorded a one-time pension past service cost of $490 million in the fourth quarter of 2024. Air Canada has excluded these charges in computing its adjusted EBITDA, adjusted CASM, adjusted pre-tax income and adjusted net income.

Adjusted CASM

Air Canada uses adjusted CASM to assess the operating and cost performance of its ongoing airline business without the effects of aircraft fuel expense, the cost of ground packages at Air Canada Vacations, freighter costs and other items. These items may distort the analysis of certain business trends and render comparative analysis across periods less meaningful and their exclusion generally allows for a more meaningful analysis of Air Canada’s operating expense performance and may allow for a more meaningful comparison to that of other airlines.

In calculating adjusted CASM, aircraft fuel expense is excluded from operating expense results as it fluctuates widely depending on many factors, including international market conditions, geopolitical events, jet fuel refining costs and Canada/U.S. currency exchange rates. Air Canada also incurs expenses related to ground packages at Air Canada Vacations which some airlines, without comparable tour operator businesses, may not incur. In addition, these costs do not generate ASMs and therefore excluding these costs from operating expense results provides for a more meaningful comparison across periods when such costs may vary.

Air Canada also incurs expenses related to the operation of freighter aircraft which some airlines, without comparable cargo businesses, may not incur. Air Canada had six Boeing 767 dedicated freighter aircraft in service as at March 31, 2026, and as at March 31, 2025. These costs do not generate ASMs and therefore excluding these costs from operating expense results provides for a more meaningful comparison of the passenger airline business across periods.

The following tables provide the adjusted CASM reconciliation to GAAP operating expense for the periods indicated.

Adjusted EBITDA and Adjusted EBITDA Margin

Adjusted EBITDA (earnings before interest, taxes, depreciation, amortization and impairment) and adjusted EBITDA margin (adjusted EBITDA as a percentage of operating revenues) are commonly used in the airline industry and are used by Air Canada as a means to view operating results and the related margin before interest, taxes, depreciation, amortization and impairment and other items. These items can vary significantly among airlines due to differences in the way airlines finance their aircraft and other assets.

Adjusted EBITDA and adjusted EBITDA margin are reconciled to GAAP operating income as follows:

Adjusted Pre-tax Income (Loss)

Adjusted pre-tax income (loss) is used by Air Canada to assess the overall pre-tax financial performance of its business without the effects of foreign exchange gains or losses, net interest relating to employee benefits, gains or losses on financial instruments recorded at fair value, gains or losses on sale and leaseback of assets, gains or losses on disposal of assets, gains or losses on debt settlements and modifications and other items discussed above. These items may distort the analysis of certain business trends and render comparative analysis across periods or to other airlines less meaningful.

Adjusted pre-tax income is reconciled to GAAP income before income taxes as follows:

Adjusted Net Income (Loss) and Adjusted Earnings (Loss) Per Share – Diluted

Air Canada uses adjusted net income (loss) and adjusted earnings (loss) per share – diluted as a means to assess the overall financial performance of its business without the after-tax effects of foreign exchange gains or losses, net financing expense relating to employee benefits, gains or losses on financial instruments recorded at fair value, gains or losses on sale and leaseback of assets, gains or losses on debt settlements and modifications, gains or losses on disposal of assets and other items discussed above. These items may distort the analysis of certain business trends and render comparative analysis to other airlines less meaningful.

Adjusted net income and adjusted earnings per share – diluted are reconciled to GAAP net income as follows: