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Mon, 7 Aug 2017

Air Canada CEO Sells Block of Shares

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.

Calin Rovinescu

 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.

Air 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.

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