Air Canada Pilots Ratify Tentative Agreement

TORONTO, ONTARIO, Jul 13 (MARKET WIRE) --
Air Canada's pilots have ratified a tentative agreement with their
employer aimed at restructuring the airline to become a stronger, viable
business that can support their jobs and pensions.

"The ratification of this agreement is a step in the right direction,"
said Captain Serge Beaulieu, Chair of the Master Executive Council of the
Air Canada Pilots Association (ACPA). "With our members' support, the
airline must now move ahead on negotiations with its other key
stakeholders to complete the fundamental restructuring of its business."

Key provisions of the agreement include:

- Pension funding relief and a fixed schedule of payments for the company

- 15 per cent equity and a seat on the airline's Board of Directors for
employees

- Restrictions on payouts to shareholders

- Protections for employees in the event of insolvency

- A 21-month collective agreement that addresses pilots' issues

"This agreement provides an opportunity to reconnect pilots with their
airline," Beaulieu said. "We will continue to press Air Canada for the
other changes required to rebuild the airline and continue to improve
customer service so that it can support jobs, pensions and other economic
benefits for Canadians."

The agreement was reached June 15 after months of negotiations and days
of intensive talks with the assistance of a federal mediator. It was
ratified by 55 per cent of pilots, with a voter turnout of 85 per cent.

The Air Canada Pilots Association is the largest professional pilot group
in Canada, representing the more than 3,000 pilots who fly Air Canada's
fleet.

Contacts:
Air Canada Pilots Association
Paul Howard
Director of Communications
905-678-9008 ext. 222 or 1-800-634-0944
www.acpa.ca

Copyright 2009, Market Wire, All rights reserved.

-0-