ACE Aviation receives repayment of Air Canada credit facility

MONTREAL, Aug. 3 /CNW Telbec/ - ACE Aviation Holdings Inc. (ACE) announced today that it has received from Air Canada the repayment of its outstanding loan to Air Canada, together with interest and prepayment fees under the Credit Agreement dated July 30, 2009 among Air Canada, ACE and other lenders. The total amount of the repayment received was $156.3 million.

For further information on ACE's public disclosure file, including ACE's Annual Information Form, please consult SEDAR at www.sedar.com.

SOURCE ACE AVIATION HOLDINGS INC.

For further information:

Internet: www.aceaviation.com