Air Canada applies for U.S. antitrust immunity to facilitate partnership with Continental Airlines, Lufthansa and United Airlines



    MONTREAL, July 23 /CNW Telbec/ - Air Canada today announced that together
with other Star Alliance partners it has applied for antitrust immunity in the
U.S. as a first step toward creating a new joint venture with Continental
Airlines, United Airlines and Lufthansa.
    Nine Star Alliance carriers, including Air Canada, have filed a joint
application with the U.S. Department of Transportation to add Continental
Airlines to their existing antitrust immunity. Antitrust immunity is necessary
in the United States to discuss coordinating schedules, fares and other
functions. In addition, Air Canada, Continental Airlines, United Airlines and
Lufthansa will ensure their proposed cooperation is also compatible with the
competition laws of Canada and the European Union.
    The DOT has granted nearly 20 applications for antitrust immunity in the
past and Air Canada currently has antitrust immunity in the U.S. with respect
to United and Lufthansa, all of which were founding members of the Star
Alliance. Continental, the fourth largest carrier in the U.S., announced in
June that it plans to join Star Alliance.

    CAUTION REGARDING FORWARD-LOOKING INFORMATION

    This disclosure may include forward-looking statements within the meaning
of applicable securities laws. Forward-looking statements are based on
assumptions, are subject to important risks and uncertainties and cannot be
relied upon due to, amongst other things, changing external factors and
general uncertainties of the business. Results indicated in forward-looking
statements may differ materially from actual results due to a number of
factors, including without limitation, energy prices, general industry, market
and economic conditions, currency exchange and interest rates, competition,
war, terrorist acts, epidemic diseases, insurance issues and costs, changes in
demand due to the seasonal nature of the business, the ability to reduce
operating costs, employee and labour relations, pension issues, supply issues,
changes in laws, regulatory developments or proceedings, pending and future
litigation and actions by third parties, as well as the factors (including
assumptions) identified in Air Canada's public disclosure file and accessible
through SEDAR at www.sedar.com. Any forward-looking statements contained in
this disclosure represent Air Canada's expectations as of the date of this
disclosure and are subject to change after such date. 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.
    %SEDAR: 00001324EF




For further information:

For further information: Isabelle Arthur (Montréal), (514) 422-5788;
Peter Fitzpatrick (Toronto), (416) 263-5576, Angela Mah (Vancouver), (604)
270-5741; Internet: aircanada.com


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