MONTREAL, July 1 /CNW Telbec/ - Air Canada has been advised by the IAMAW
of the following ratification vote results on the tentative pension funding
moratorium and labour stability agreements reached by the parties on June 8,
2009:

    Clerical - 93.2% in favour
    Finance - 87.5 % in favour
    Technical, Maintenance and Operational Support - 50.8% against

    In view of these results, the Company and the IAMAW will meet promptly to
discuss next steps in the process.
    The Company has concluded agreements on a cost neutral basis for
collective agreement extensions with its entire unionized workforce in Canada,
in addition to having reached tentative agreements on a pension funding
moratorium. The agreements are subject to a number of conditions including
ratification by the membership of each of the five unions, the adoption by the
Federal Government of an Order-in-Council amending Air Canada's pension
funding rules and Air Canada raising a minimum of $600 million in new
financing.
    The CAW and CALDA contracts have been ratified and the ratification
process is ongoing with ACPA and CUPE.

    The IAMAW represents approximately 12,300 Technical, Maintenance and
Operational Support, Clerical and Finance Employees at Air Canada.

    Forward Looking Information

    Air Canada's public communications may include written or oral
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. Any forecasts or forward-looking
predictions or 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, 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. The
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.
    %SEDAR: 00001324EF