Air Canada welcomes U.S. DOT final approval to form transatlantic alliance
with Continental Airlines, Lufthansa and United Airlines; Antitrust immunity
granted to build integrated joint venture
MONTREAL, July 10 /PRNewswire-FirstCall/ - Air Canada welcomed today's
decision by the U.S. Department of Transportation (DOT) to approve the
formation of a transatlantic alliance between Air Canada, Continental
Airlines, Lufthansa and United Airlines. In its decision, the DOT granted
antitrust immunity to the four carriers that allows them to develop an
integrated joint venture and strengthen their transatlantic network, creating
substantial new service options and fare benefits for customers.
"We welcome the DOT's final approval today that facilitates Air Canada moving
forward with the formation of a transatlantic alliance with our partners
Continental, Lufthansa and United," said Ben Smith, Air Canada's Executive
Vice President and Chief Commercial Officer. "Transatlantic travel represents
the world's largest international air transportation market. Obtaining
antitrust immunity is a critical step in allowing us to cooperate more fully
in order to offer our customers more value, choice and simplicity when making
their transatlantic travel plans. Working with our partners, Air Canada's
presence in this important market will be enhanced and our competitive
position will be strengthened with improved access to an extended global
network when the transatlantic alliance is implemented. Air Canada customers
will benefit from more options between Canada and Europe, Africa, the Middle
East, India, the Commonwealth of Independent States (CIS) and western Russia."
Air Canada will continue to cooperate with regulatory authorities in other
jurisdictions as required to ensure compliance of the transatlantic alliance
arrangements, as the carrier and its partners prepare to move forward as an
integrated joint venture in the months to come.
Forward Looking Information
Air Canada's public communications may include written or oral forward-looking
statements within the meaning of applicable securities laws. Forward-looking
statements, by their nature, are based on assumptions and are subject to
important risks and uncertainties. Any forecasts or forward-looking
predictions or statements cannot be relied upon due to, amongst other things,
changing external events and general uncertainties of the business. Actual
results may differ materially from results indicated in forward-looking
statements due to a number of factors, including without limitation, industry,
market, credit and economic conditions, the ability to reduce operating costs
and secure financing, pension issues, energy prices, currency exchange and
interest rates, employee and labour relations, competition, war, terrorist
acts, epidemic diseases, insurance issues and costs, changes in demand due to
the seasonal nature of the business, supply issues, changes in laws,
regulatory developments or proceedings, pending and future litigation and
actions by third parties as well as the factors identified throughout Air
Canada's public disclosure file available at www.sedar.com. The
forward-looking statements contained in this news release represent Air
Canada's expectations as of the date of this news release 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 as a
result of new information, future events or otherwise, except as required
under applicable securities regulations.
SOURCE AIR CANADA - CORPORATE - FINANCIAL
Isabelle Arthur (Montreal), (514) 422-5788; Peter Fitzpatrick (Toronto), (416)
263-5576; Angela Mah (Vancouver), (604) 270-5741; Internet: aircanada.com
