The Globe and Mail reports in its Tuesday, July 21, edition that share buybacks are typically used by companies as a strategy to improve shareholder returns. The Globe's regular guest columnist Ted Dixon writes that when insiders buy during an active buyback program, they reinforce the idea that the stock is undervalued; when insiders are selling in size while the company repurchases shares, the message is less encouraging. It can point to declining growth opportunities or a rising risk environment. Air Canada's positive combination of buybacks and insider buying continued in the second quarter. In the first half of 2026, Air Canada spent almost $267-million to repurchase 14.51 million shares at an average $18.38. The most recent reported repurchase took place on May 8. Air Canada's senior officers were also accumulating shares in the public market in the first half. Seventeen insiders reported purchasing more than $1.3-million worth of shares, with 67,048 shares acquired at an average price of $19.46. Air Canada's North American employees can participate in an employee share ownership plan where Air Canada matches 33.33 per cent of employee contributions to purchase shares in the public market.