MONTREAL, Oct. 24, 2012 /CNW Telbec/ - Air Canada said today that it,
together with United Continental Holdings Inc., United Air Lines Inc.
and Continental Airlines Inc. have reached an agreement with Canada's
Commissioner of Competition (the "Commissioner") which settles the
Notice of Application filed by the Commissioner opposing a proposed
Canada-U.S. transborder joint venture by the airlines as well as
aspects of the airlines' existing transborder cooperation arrangements.
The conclusion of this agreement preserves, subject to agreed
conditions, the airlines' existing commercial arrangements and their
ability to create a transborder joint venture.
"Air Canada is pleased this matter has been settled and that an
agreement has been reached that preserves our longstanding commercial
relationship with our alliance partner, United Airlines, while
providing the flexibility to continue building on this relationship for
the benefit of both airlines and our customers," said Ben Smith, Air
Canada's Executive Vice President and Chief Commercial Officer. "Air
Canada has cooperated extensively with the Commissioner throughout this
process, and will continue to comply with all applicable regulatory
requirements of the jurisdictions in which we operate.
"This agreement re-confirms that the long-standing alliance relationship
between Air Canada and United which has provided more efficient and
convenient service to customers will continue to be conducted in
accordance with all applicable laws.
"In addition, this agreement provides the flexibility to implement a
Canada-U.S. transborder joint venture, an increasingly common practice
in the global aviation industry, and one that is an important
competitive consideration as the industry continues to evolve."
Air Canada is Canada's largest domestic and international airline
serving more than 175 destinations on five continents. Canada's flag
carrier is the 15th largest commercial airline in the world and in 2011
served more than 33 million customers. Air Canada provides scheduled
passenger service directly to 59 Canadian cities, 56 destinations in
the United States and 63 cities in Europe, the Middle East, Asia,
Australia, the Caribbean, Mexico and South America. Air Canada is a
founding member of Star Alliance, the world's most comprehensive air
transportation network serving 1,356 destinations in 193 countries. In
2012, Air Canada was ranked Best International Airline in North America
in a worldwide survey of more than 18 million airline passengers
conducted by independent research firm Skytrax.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
Air Canada's public communications may include 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. Forward-looking
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,
employee and labour relations, currency exchange and interest rates,
competition, war, terrorist acts, epidemic diseases, environmental
factors (including weather systems and other natural phenomena and
factors arising from man-made sources), 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. Any forward-looking statements contained in this news release
represent Air Canada's expectations as of 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
For further information:
Isabelle Arthur (Montréal) 514 422-5788
Peter Fitzpatrick (Toronto) 416 263-5576
Angela Mah (Vancouver) 604 270-5741
Internet : aircanada.com