MONTREAL, Oct. 31, 2014 /CNW Telbec/ - Air Canada welcomes today's confirmation by the Air Canada Pilots Association that its members have ratified a landmark agreement on collective agreement terms for ten years.

"This ten-year agreement with the Air Canada Pilots Association is a ground-breaking development which allows us to accelerate the implementation of our business strategy on a win-win basis with our pilots," said Calin Rovinescu, President and CEO of Air Canada. "The new agreement provides greater stability and long term cost certainty as well as a framework for a strong partnership with our pilots. It is also the most tangible indication of the shift in culture underway at Air Canada.

"With this agreement now in place, we can focus our efforts on long-term profitable growth at both Air Canada and rouge for the benefit of our employees and all of Air Canada's stakeholders. I thank the teams representing both ACPA and management for their insight, commitment and determination in reaching this agreement."

The agreement is subject to certain openers and benchmarks over the 10 year period.

In addition to labour stability and long term cost certainty, the agreement also provides for increased flexibility with respect to regional airline capacity purchase agreements to help ensure cost competitiveness.  In addition, it facilitates the evolution of Air Canada rouge^TM into a stronger leisure carrier with improved fleet renewal flexibility and terms. As well, the agreement provides additional codeshare and joint venture flexibility and scope.

The agreement has been approved by the Air Canada Board of Directors.

The Air Canada Pilots Association membership comprises approximately 3,000 pilots.

Air Canada is Canada's largest domestic and international airline serving more than 180 destinations on five continents.  Canada's flag carrier is among the 20 largest airlines in the world and in 2013 served more than 35 million customers.  Air Canada provides scheduled passenger service directly to 60 Canadian cities, 49 destinations in the United States and 73 cities in Europe, the Middle East, Asia, Australia, the Caribbean, Mexico and South America. Air Canada is a founding member of Star Alliance, the world's most comprehensive air transportation network serving 1,316 airports in 192 countries.  Air Canada is the only international network carrier in North America to receive a Four-Star ranking according to independent U.K. research firm Skytrax that ranked Air Canada in a worldwide survey of more than 18 million airline passengers as Best Airline in North America in 2014 for the fifth consecutive year.  For more information, please visit: www.aircanada.com.

Caution Regarding Forward-Looking Information

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. 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, employee and labour relations, currency exchange and interest rates, 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 www.sedar.com.  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.

SOURCE Air Canada