Air Canada Investor Presentation — September 2019

Document content

Results for third quarter 2019

Improved results –Acquisition of the

Corporation is waiting for regulatory approvals

INVESTOR’S PRESENTATION

SEPTEMBER 2019Caution regarding forward -looking statements / non -IFRS financial measures

This presentation contains certain forward -looking statements regarding theCorporation's expectation that travel reservations willfollow thetrends .Inmaking these statements, theCorporation has

assumed that thetrends inreservations and selling prices willcontinue, and that fuelprices, other costs and thevalue oftheCanadian dollar against foreign currencies willremain stable .Ifthese

assumptions prove incorrect, actual results anddevelopments may differ materially from those contemplated bytheforward -looking statements contained inthisnews release .Results indicated inforward -

looking statements may differ materially from actual results foranumber ofreasons, including without limitation, economic conditions, changes indemand duetotheseasonal nature ofthebusiness,

extreme weather conditions, climatic orgeological disasters, war, political instability, real orperceived terrorism, outbreaks ofepidemics ordisease, consumer preferences and consumer habits,

consumers’ perceptions ofthesafety ofdestination services andaviation safety, demographic trends, disruptions totheairtraffic control system, thecost ofprotective, safety andenvironmental measures,

competition, theCorporation’s ability tomaintain and grow itsreputation and brand, theavailability offunding inthefuture, fluctuations infuel prices and exchange rates and interest rates, the

Corporation’s dependence onkeysuppliers, theavailability andfluctuation ofcosts related toouraircraft, information technology andtelecommunications, changes inlegislation, unfavorable regulatory