MONTREAL, March 13 /CNW Telbec/ - Air Canada today announced the
completion of the sale and leaseback transaction of one Boeing 777-300ER
aircraft with GE Commercial Aviation Services (GECAS), a division of General
Electric Capital Corporation (GECC). This 12 year sale and leaseback
transaction provides Air Canada with US$38 million of funding (approximately
C$48 million).
    This completes the full funding under all the previously announced
agreements with GECC and its affiliates, providing Air Canada with total
financing of US$193 million (approximately C$238 million). The two previously
announced secured financings with GECC were for US$80 million (approximately
C$98 million) completed December 23, 2008 and US$75 million (approximately
C$92 million) completed January 30, 2009.
    Seabury Group LLC acted as financial advisor to Air Canada with respect
to the GE Capital transaction as part of a broader mandate to assist Air
Canada in securing long-term capital funds for general working capital
purposes.

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Forward-looking statements, by their nature, are based on assumptions and are
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