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or Name
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Air Canada
Symbol AC
Shares Issued 274,033,942
Close 2017-11-06 C$ 24.00
Market Cap C$ 6,576,814,608
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Air Canada, Sky Regional agree to 10-year extension

2017-11-07 11:05 ET - News Release

Mr. Kevin Howlett reports

AIR CANADA AND SKY REGIONAL AIRLINES CONCLUDE 10-YEAR EXTENSION TO CAPACITY PURCHASE AGREEMENT

Air Canada and Sky Regional Airlines have concluded a 10-year extension to their existing capacity purchase agreement (CPA), effective April 1, 2017.

"This 10-year extension to the existing capacity purchase agreement with Sky Regional Airlines underscores our confidence in our Air Canada Express partner to provide a seamless operation and customer experience on behalf of Air Canada in a number of our key domestic and transborder regional markets on a cost competitive basis," said Kevin Howlett, senior vice-president, regional markets and government relations, at Air Canada. "With its fleet comprised exclusively of Embraer 175 jet aircraft that has grown to 25 in recent years, Sky Regional strengthens Air Canada's competitive position in the rapidly evolving North American regional markets as low-cost operators continue to grow, both in Canada and the United States."

"We are very pleased that Air Canada has recognized our commitment to the passenger experience and are looking forward to continued success as Air Canada offers more regional options for Canadians," said Russell Payson, chairman of Sky Regional.

In addition to Sky Regional, Air Canada has capacity purchase agreements with its other regional airline partners, Jazz, Air Georgian and EVAS, that operate regional Air Canada Express flights on behalf of Air Canada.

About Air Canada

Air Canada is Canada's largest domestic and international airline serving more than 200 airports on six continents. Canada's flag carrier is among the 20 largest airlines in the world and, in 2016, served close to 45 million customers. Air Canada provides scheduled passenger service directly to 64 airports in Canada, 57 in the United States, and 98 in Europe, the Middle East, Africa, Asia, Australia, the Caribbean, Mexico, Central America and South America.

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