Core Insights - Air Canada CEO Michael Rousseau will retire by the end of Q3 2026 after nearly two decades of leadership, during which he has significantly contributed to the airline's position in the industry [1][3] - The Board of Directors has been focused on CEO succession planning for over two years, including an internal development program and an external search for candidates [2] Group 1: Leadership Transition - The Board has initiated a comprehensive internal development program for high-potential executives and started an external search for additional candidates in January 2026 [2] - Performance criteria for assessing candidates will include the ability to communicate in French, reflecting the company's commitment to its Canadian roots [2] - Rousseau will remain available to ensure a smooth transition during this period [2][4] Group 2: Contributions and Achievements - Rousseau's leadership has been pivotal in navigating challenges such as the 2007-2008 financial crisis and the COVID-19 pandemic, as well as in strategic initiatives like the acquisition of Aeroplan [3] - His tenure is marked by a legacy of financial strength and a focus on customer centricity and employee well-being [3] - The upcoming annual general meeting (AGM) will further recognize Rousseau's contributions to the company [3] Group 3: Company Overview - Air Canada is the largest airline in Canada and a founding member of Star Alliance, serving over 180 airports globally [6] - The Aeroplan program is Canada's premier travel loyalty program with over 10 million members [6] - Air Canada aims for net-zero greenhouse gas emissions by 2050 as part of its climate-related ambitions [6]

Core Viewpoint - Air Canada is preparing for its 2026 annual meeting of shareholders, which will occur shortly after a tragic accident involving Air Canada Express Flight AC8646, emphasizing the company's commitment to addressing shareholder concerns and reporting on its achievements [2][3]. Meeting Details - The annual meeting is scheduled for May 1, 2026, at 8:30 a.m. PT (11:30 a.m. ET) in a hybrid format, allowing both in-person and virtual attendance [7]. - Shareholders are encouraged to vote in advance using various methods, with a deadline set for noon (ET) on April 29, 2026 [8]. Governance and Compensation - The circular outlines key voting matters, including the election of directors, appointment of auditors, and an advisory vote on executive compensation, reflecting the company's performance in fiscal 2025 [4][5]. - The board's assessment of executive performance for 2025 considers solid financial results, particularly an exceptional fourth quarter, alongside non-financial performance across nine key areas [5]. Shareholder Engagement - Air Canada will donate $1 to the Air Canada Foundation for every shareholder account that votes, regardless of the vote outcome, highlighting the company's commitment to social responsibility [9]. Company Overview - Air Canada is the largest airline in Canada, providing scheduled service to over 180 airports globally and holding a Four-Star ranking from Skytrax [12]. - The company aims for net-zero greenhouse gas emissions by 2050, reflecting its commitment to climate action [12].

Core Points - Air Canada expresses condolences for the tragic accident involving Flight AC8646, which occurred on March 22, 2026, at New York LaGuardia Airport [2][3] - The company is preparing for its 2026 annual meeting of shareholders, where it will discuss achievements and address shareholder concerns [2] Meeting Details - The annual meeting is scheduled for May 1, 2026, at 8:30 a.m. PT (11:30 a.m. ET) in a hybrid format, allowing both in-person and virtual attendance [7] - Shareholders are encouraged to vote in advance using various methods, with a deadline of noon (ET) on April 29, 2026 [8] Governance and Compensation - The circular includes information on the election of directors, appointment of auditors, and an advisory vote on executive compensation, among other matters [4] - Air Canada reviews its governance practices, including board renewal and CEO succession, and provides details on executive compensation based on fiscal 2025 performance [5] Shareholder Engagement - The company will make a $1 charitable donation to the Air Canada Foundation for every shareholder account that votes at the meeting, regardless of the vote outcome [9] - Shareholders can access meeting materials online and request paper copies if needed [12] Company Overview - Air Canada is the largest airline in Canada and a founding member of Star Alliance, providing scheduled service to over 180 airports globally [13] - The airline aims for net-zero greenhouse gas emissions by 2050 as part of its climate-related ambitions [13]

Core Points - Air Canada expresses condolences to the families of the Jazz Captain and First Officer who lost their lives in a tragic accident, highlighting the impact on employees and customers [1] - The company is fully cooperating with U.S. and Canadian authorities in the ongoing investigation [1] - Air Canada acknowledges the professionalism and resilience of its employees during this difficult time [2][4] Company Overview - Air Canada is the largest airline in Canada and serves as the country's flag carrier, being a founding member of the Star Alliance [4] - The airline operates scheduled services to over 180 airports across Canada, the U.S., and internationally on six continents [4] - Air Canada holds a Four-Star ranking from Skytrax and has a premier travel loyalty program, Aeroplan, with over 10 million members [4] - The company offers extensive travel options through Air Canada Vacations and operates a freight division, Air Canada Cargo, providing air freight services globally [4] - Air Canada aims for net-zero greenhouse gas emissions by 2050 as part of its climate-related ambitions [4]

Core Points - The Air Canada Foundation has announced new leadership changes, with Louise-Hélène Sénécal appointed as the new Chair following the retirement of Priscille Leblanc, who served since the Foundation's inception in 2012 [1][3] - The Foundation's Board of Directors has welcomed new members Maria Kuchel and Marcel Forget, while also acknowledging the retirement of Panagiota 'Peggy' Zafiris [3][6] - In 2026, the Foundation approved grants for 38 registered charities across Canada, with the announcement of Big Dream Grants recipients expected soon [4][6] Leadership Changes - Priscille Leblanc retires after 13 years of leadership as the first Chair of the Air Canada Foundation [6] - Louise-Hélène Sénécal, former Vice President and General Counsel of Air Canada, takes over as Chair [1][3] - New Board members Maria Kuchel (Secretary) and Marcel Forget join the existing Board [3][6] Grant Distribution - The Air Canada Foundation has selected 38 charities to receive grants this year, following a rigorous selection process from hundreds of applications [4][6] - The Foundation has committed to improving the health and well-being of children and youth in Canada, having raised over $20 million since its establishment [5][6] Foundation Overview - Established in 2012, the Air Canada Foundation focuses on supporting children and youth, humanitarian relief, and health-related causes [5][8] - Core programs include the Hospital Transportation Program, which redistributes Aeroplan points to pediatric hospitals, and fundraising activities like the Every Bit Counts program [8]

Core Insights - Air Canada has been recognized as one of Montreal's Top Employers for the 13th consecutive year, highlighting its commitment to creating an engaging and inclusive workplace [1][3] Group 1: Employee Commitment - The recognition reflects Air Canada's sustained investment in its people programs, emphasizing a workplace where employees feel supported [3] - The Elevate leadership development program and the UBY (Unlock the Best in You) employee well-being program are key initiatives that contribute to this recognition [3] Group 2: Additional Recognitions - Air Canada has also been acknowledged as one of Canada's Best Diversity Employers for 2026 and one of Canada's Top Employers for Young People for the third consecutive year [6] Group 3: Company Overview - Air Canada is the largest airline in Canada and a founding member of Star Alliance, providing scheduled service to over 180 airports globally [5] - The airline's Aeroplan program is Canada's premier travel loyalty program with over 10 million members [5] - Air Canada aims for net-zero greenhouse gas emissions by 2050 as part of its climate-related ambitions [5]

Core Insights - Air Canada has been recognized as one of Canada's Best Diversity Employers for 2026, marking the eighth time in a decade the airline has received this accolade [1] - The recognition highlights Air Canada's commitment to diversity, equity, and inclusion, emphasizing collaboration among employees, resource groups, and community partners [3] - The airline continues to promote an inclusive workplace through strategic partnerships and initiatives aimed at underrepresented communities [4] Company Overview - Air Canada is the largest airline in Canada and a founding member of Star Alliance, providing scheduled service to over 180 airports globally [6] - The airline has a Four-Star ranking from Skytrax and operates a premier travel loyalty program, Aeroplan, with over 10 million members [6] - Air Canada also offers extensive travel options through Air Canada Vacations, covering hundreds of destinations worldwide [6] Diversity and Inclusion Initiatives - The airline connects with underrepresented communities to share aviation career opportunities and provides scholarships for those studying to be pilots and aircraft mechanics [7] - Air Canada has established a governance structure to support inclusion and belonging at all organizational levels [7] - The company celebrates workforce diversity through Employee Resource Groups and Champions for inclusion [7] Environmental Commitment - Air Canada has set a long-term goal of achieving net-zero greenhouse gas emissions by 2050 as part of its climate-related ambitions [8]

Core Insights - Air Canada reported total revenue of CAD 22.4 billion for the full year, a 1% increase compared to 2024, and Adjusted EBITDA exceeding CAD 3.1 billion, surpassing company guidance and market expectations despite challenges from labor disruptions and inflationary pressures [1][7] Financial Performance - In Q4, Air Canada achieved record passenger revenues of CAD 5.0 billion and a load factor of 85%, with unit revenues rising 2% [2] - Q4 revenue reached CAD 5.8 billion, a nearly 7% year-over-year increase, with record Q4 Adjusted EBITDA of CAD 867 million, up 25% from the previous year [3][7] - The airline ended 2025 with CAD 7.5 billion in liquidity and net leverage of 1.7x, generating CAD 747 million in free cash flow and returning over CAD 850 million to shareholders [5][18] Future Guidance - Management anticipates 2026 to be a "transitional year" with cost pressures and significant fleet activity, guiding Adjusted EBITDA to CAD 3.35–3.75 billion and free cash flow to CAD 400–800 million [6][19] - Capacity growth is projected at 3.5%–5.5% for 2026, with plans for up to 35 aircraft deliveries [6][10] Network Strategy and Demand Trends - The airline's network and revenue diversity are highlighted as key strengths, with international markets contributing nearly 90% of revenue growth in Q4 [2][8] - Air Canada has adjusted capacity towards stronger markets, particularly in Canada and the Atlantic, achieving 4% traffic growth year-over-year [9] Revenue Contributors - Premium revenues increased by 2% year-over-year, representing about 30% of total passenger revenues, while "other revenues" rose 15% and cargo revenues increased by 4% [12][13] - Aeroplan reported over 10 million active members, with significant growth in gross billings and card spend [14] Cost Management and Capital Returns - Adjusted CASM for 2025 was CAD 0.147, a 6.7% increase year-over-year, attributed to labor costs and fleet investments [15] - The company implemented CAD 150 million in cost-reduction programs and expects these savings to be recurring [16] Fleet Plans - Air Canada plans to receive up to 35 aircraft in 2026, including the first Airbus A321XLR and Boeing 787-10 deliveries, aimed at enhancing service and unlocking new destinations [21] - An order for eight Airbus A350-1000 aircraft has been placed, with delivery scheduled between 2030 and 2032, intended to replace older A330s [22]

Core Viewpoint - The Air Canada Foundation has launched the Big Dreams Grant Program to support organizations that enhance the health and well-being of children and youth in Canada through sports and active recreation [1][4]. Grant Program Details - The program includes two grants of $100,000 each: the Healthy Futures Grant for sport-based programs promoting wellness and resilience among equity-deserving youth, and the Accessible Sports and Recreation Grant for initiatives enabling youth with disabilities to participate in physical activities [3]. - Applications for the grants are open until March 15, 2026, targeting Canadian charitable organizations that serve equity-deserving youth and children with disabilities [4]. Air Canada Foundation Overview - The Air Canada Foundation, established in 2012, focuses on the health and well-being of children and youth, providing financial and in-kind support to Canadian-registered charities [5]. - Core programs include the Hospital Transportation Program, which redistributes Aeroplan points to pediatric hospitals, and fundraising activities like the Every Bit Counts program [5].

Core Insights - Air Canada has been recognized as one of Canada's Top Employers for Young People for the third consecutive year, highlighting its commitment to creating opportunities for the next generation [1][3] Group 1: Human Resources Initiatives - The company offers innovative HR programs, including language training, a buddy system for young professionals, and ongoing engagement events throughout the year [1][3] - Air Canada has invested in programs to develop cross-functional skills necessary for future leadership, aligning with its strategic growth phase known as New Frontiers [3] Group 2: Internship and Development Programs - Air Canada provides paid internship programs across various disciplines, welcoming over 100 interns in the past year to gain practical skills and work experience [4] - The Work Integrated Learning Program aims to expand the talent pool by offering work experience opportunities to post-secondary students from universities across Canada [4] Group 3: Additional Support for Young Professionals - Students have access to online training options to enhance second language skills and learn about diversity, equity, and inclusion, along with workshops on CV optimization and interview preparation [5] - The buddy system is designed to help young professionals integrate into the organization, complemented by networking events and career orientation sessions [6] Group 4: Evaluation Criteria for Awards - Employers were evaluated based on their programs to attract and retain younger workers, including benefits like tuition assistance, mentorship, and career management programs [7]