Air Canada has confirmed that Calin Rovinescu,
its President and Chief Executive Officer, has sold 1,645,181
Class B Voting Shares in a block trade to a financial institution,
as reported in applicable securities filings.
Mr. Rovinescu plans to use proceeds from
the sale of shares for investment diversification, estate planning
and to fund his Family Foundation for charitable giving.
Mr. Rovinescu continues to own a substantial
equity interest in Air Canada through his remaining holdings of
Class B voting shares and other equity securities.
Canada currently serves more than 200 airports on six continents. Canada's flag
carrier is among the 20 largest airlines in the world and in 2016
served close to 45 million customers.
The airline provides scheduled passenger service
directly to 64 airports in Canada, 57 in the United States and 95
in Europe, the Middle East, Africa, Asia, Australia, the
Caribbean, Mexico, Central America and South America.