Air Canada receives statement of objections from European Commission

    MONTREAL, Dec. 24 /CNW Telbec/ - Air Canada confirms that it has received
today a statement of objections from the European Commission that sets out the
Commission's preliminary assessment in its investigation into alleged
anti-competitive cargo pricing activities, including relating to the levying
of certain fuel surcharges, among a number of airlines and cargo operators, in
breach of EC antitrust laws.
    Air Canada, which was not subject to investigations at its premises when
the Commission began its enquiries, has voluntarily been cooperating with the
Commission in its investigation and will continue to do so.
    Air Canada is studying the statement of objections and will respond in
writing in accordance with normal procedure.
    It is Air Canada's policy to conduct its business in full compliance with
all applicable laws in all of the jurisdictions in which it does business,
including all applicable competition or antitrust laws.
    A statement of objections is a procedural document whereby the European
Commission communicates its preliminary view in relation to a possible
infringement of EU competition law and allows its addressees to present
arguments in response. It does not prejudge the European Commission's final
decision. Any final decision by the European Commission is subject to appeal
to the European courts.
    It is not possible at this time to predict with any degree of certainty
the outcome of these proceedings but, as previously disclosed, these
proceedings may result in liability to Air Canada, which may be material.
    %SEDAR: 00001324EF

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