Air Canada announces repurchase of 4.000% convertible senior notes due 2025

Air Canada has agreed to repurchase USD 174.3 million aggregate principal amount of its outstanding 4.000% Convertible Senior Notes due 2025 (the “Notes”) for an aggregate cash repurchase price of approximately USD 209 million, including accrued interest.  The repurchases are expected to close on or about 13 September 2022, subject to customary closing conditions. Following the closing of the repurchases and the cancellation of the repurchased Notes, USD 573.2 million aggregate principal amount of Notes will remain outstanding.

Air Canada is Canada’s largest airline, the country’s flag carrier and a founding member of Star Alliance, celebrating its 25^thanniversary in 2022. Air Canada provides scheduled passenger service directly to 51 airports in Canada, 51 in the United States and 86 internationally. It is the only international network carrier in North America to receive a Air Canada offers the ability to earn or redeem points on the world’s largest airline partner network of 45 airlines, plus through an extensive range of merchandise, hotel and car rental rewards. Air Canada has committed to a net zero emissions goal from all global operations by 2050.