Air Canada Confirms Receipt of CAW Pension Arbitration Ruling

MONTREAL, Sept. 16, 2011 /CNW Telbec/ - Air Canada said today it has received a decision in the arbitration related to pension arrangements for new hires represented by the Canadian Auto Workers (CAW) union at the airline.  The CAW represents approximately 4,000 Customer Service and Sales Agents employed by Air Canada.

The arbitration process was established under the collective agreement signed between Air Canada and the CAW and ratified by the union on June 27, 2011. Under the terms of the agreement, the issue of pension arrangements applicable to employees hired after the date of ratification was referred first to mediation and then to arbitration. In his ruling issued today, arbitrator Kevin Burkett determined that a hybrid pension regime consisting of part defined contribution and part defined benefit plan will apply to new hires represented by the CAW.


Air Canada's public communications may include 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, including those described below. Forward-looking 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 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 Any 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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