Air Canada receives commitment from GE Japan Corporation for aircraft loan
facility

MONTREAL, June 10 /CNW Telbec/ - Air Canada announced today that it has received a commitment from GE Japan Corporation for a senior secured term loan facility in the amount of up to US$170.5 million (the "Facility") to finance a portion of the purchase price for sixteen aircraft currently leased and operated by Air Canada. Completion of the financing is subject to certain customary terms and conditions.

This loan facility will be available to finance up to US $128.5 million of the amount required to purchase eight Airbus A319 aircraft and four Boeing B767-300ER aircraft in 2011, with terms of seven and four years respectively. The loan facility will also be available to finance up to US $42 million of the amount required to purchase four Airbus A319 aircraft in 2012, with a term of five years.

CAUTION REGARDING 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, environmental factors (including weather systems and other natural phenomena, such as volcanic eruptions, 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. 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.

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SOURCE Air Canada

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


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