Air Canada Responds To Canadian Airlines Decision To File For Court Protection

24th Mar 2000

In response to today`s announcement by Canadian Airlines that it has taken the next step in its financial restructuring by filing for court protection, Air Canada is issuing the following statement:

Customers and employees can take assurance from the fact that, since it began the process of acquiring Canadian Airlines, Air Canada remains committed to protecting the interests of both customers and employees of Air Canada, Canadian Airlines and their wholly owned subsidiaries as the process of financial restructuring moves forward.

Canadian Airlines` decision to file for court protection in Canada under the Companies` Creditors Arrangement Act (CCAA) provides a formal structure for Canadian Airlines to obtain creditor approval. There is no impact on Canadian Airlines` and Canadian Regional Airlines` operations, employees and customers.



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