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Air Canada reports record November load factor

    Mainline domestic traffic grows over previous year

    MONTREAL, Dec. 3 /CNW Telbec/ - Air Canada and Jazz reported today a
record consolidated load factor of 77.6 per cent for the month of November,
according to preliminary traffic figures.
    The result was an increase of 1.9 percentage points over its 75.7 per
cent load factor in November 2007. System traffic decreased 5.2 per cent on a
capacity reduction of 7.5 per cent system wide.
    Air Canada mainline reported a load factor of 78.5 per cent compared to
76.1 per cent in November 2007; an increase of 2.4 percentage points. The
mainline carrier flew 4.4 per cent fewer revenue passenger miles (RPMs) in
November 2008 than in November 2007 on a capacity decrease of 7.3 per cent.
Domestically, traffic grew 2.8 per cent on a 2.2 per cent increase in
capacity.
    Jazz, from which Air Canada purchases regional capacity, reported a load
factor of 69.6 per cent, a decrease of 2.6 percentage points from 72.2 per
cent in November 2007. Capacity decreased by 9.4 per cent from November 2007
and the carrier flew 12.7 per cent fewer RPMs than in the previous November.
    "Air Canada reported a record 77.6 per cent consolidated load factor for
November, one of the highest in the North American industry. Our strong
performance reflects a more robust Canadian market relative to that of the
U.S.," said Montie Brewer, President and Chief Executive Officer. "These
traffic results show that we are managing capacity effectively and utilizing
our assets efficiently. This ongoing strategy along with the decline in fuel
prices positions us well to manage through these challenging economic times.
Our performance is also a tribute to our employees' hard work and I thank them
for their commitment to customer service, exemplified by the fact November was
the eighth consecutive month in which we exceeded our monthly On-Time
Performance target."

    CAUTION REGARDING FORWARD-LOOKING INFORMATION

    This disclosure may include forward-looking statements within the meaning
of applicable securities laws. Forward-looking statements are based on
assumptions, are subject to important risks and uncertainties and cannot be
relied upon due to, amongst other things, changing external factors and
general uncertainties of the business. Results indicated in forward-looking
statements may differ materially from actual results due to a number of
factors, including without limitation, energy prices, general industry,
market, credit and economic conditions, currency exchange and interest rates,
competition, war, terrorist acts, epidemic diseases, insurance issues and
costs, changes in demand due to the seasonal nature of the business, the
ability to reduce operating costs, employee and labour relations, pension
issues, supply issues, changes in laws, regulatory developments or
proceedings, pending and future litigation and actions by third parties, as
well as the factors (including assumptions) identified in Air Canada's public
disclosure file and accessible through SEDAR at www.sedar.com. Any
forward-looking statements contained in this disclosure represent Air Canada's
expectations as of the date of this disclosure and are subject to change after
such date. 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.

    -------------------------------------------------------------------------
                             AIR CANADA MAINLINE
                           (Includes Jetz & Tier 3)
    -------------------------------------------------------------------------
                            NOVEMBER                    YEAR-TO-DATE
                      -------------------------------------------------------
                       2008    2007  Change         2008    2007  Change
    -------------------------------------------------------------------------
    Traffic
     (RPMs millions)  2,929   3,065    -4.4%      42,984  42,705    +0.7%
    -------------------------------------------------------------------------
    Capacity
     (ASMs millions)  3,732   4,027    -7.3%      52,266  52,460    -0.4%
    -------------------------------------------------------------------------
    Load Factor        78.5%   76.1%   +2.4 pts     82.2%   81.4%   +0.8 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
              RPMs      912     887    +2.8%      12,242  12,081    +1.3%
             --------------------------------------------------------------
    Canada    ASMs    1,146   1,121    +2.2%      15,084  14,822    +1.8%
             ----------------------------------------------------------------
              Load
               Factor  79.6%   79.1%   +0.5 pts     81.2%  81.5%    -0.3 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
              RPMs      458     552   -17.0%       6,277   6,913    -9.2%
    U.S.     ----------------------------------------------------------------
     Trans-   ASMs      590     735   -19.7%       7,929   8,780    -9.7%
     border  ----------------------------------------------------------------
              Load
               Factor  77.6%   75.1%   +2.5 pts     79.2%   78.7%   +0.5 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
              RPMs      697     719    -3.1%      11,605  11,578    +0.2%
             ----------------------------------------------------------------
    Atlantic  ASMs      926     975    -5.0%      13,678  13,934    -1.8%
             ----------------------------------------------------------------
              Load
               Factor  75.3%   73.7%   +1.6 pts     84.8%   83.1%   +1.7 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
              RPMs      502     588   -14.6%       7,979   8,059    -1.0%
             ----------------------------------------------------------------
    Pacific   ASMs      576     766   -24.8%       9,467   9,737    -2.8%
             ----------------------------------------------------------------
              Load
               Factor  87.2%   76.8%  +10.4 pts     84.3%   82.8%  +1.5 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
              RPMs      360     319   +12.9%       4,881   4,074   +19.8%
    Latin    ----------------------------------------------------------------
     America  ASMs      494     430   +14.9%       6,108   5,187   +17.8%
     & Other ----------------------------------------------------------------
              Load
               Factor  72.9%   74.2%   -1.3 pts     79.9%   78.5%   +1.4 pts
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
                   AIR CANADA'S REGIONAL CAPACITY PROVIDER
                                   (JAZZ)
    -------------------------------------------------------------------------
                              NOVEMBER                   YEAR-TO-DATE
                      -------------------------------------------------------
                       2008    2007  Change         2008    2007  Change
    -------------------------------------------------------------------------
    Traffic
    (RPMs millions)     288     330   -12.7%       3,799   3,932    -3.4%
    -------------------------------------------------------------------------
    Capacity
     (ASMs millions)    414     457    -9.4%       5,232   5,287    -1.0%
    -------------------------------------------------------------------------
    Load Factor        69.6%   72.2%   -2.6 pts     72.6%   74.4%   -1.8 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
              RPMs      198     249   -20.5%       2,752   2,954    -6.8%
             ----------------------------------------------------------------
    Canada    ASMs      270     334   -19.2%       3,615   3,850    -6.1%
             ----------------------------------------------------------------
              Load
               Factor  73.3%   74.6%   -1.3 pts     76.1%   76.7%   -0.6 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
              RPMs       90      81   +11.1%       1,047     978    +7.1%
    U.S.     ----------------------------------------------------------------
     Trans-   ASMs      144     123   +17.1%       1,617   1,437   +12.5%
     border  ----------------------------------------------------------------
              Load
               Factor  62.5%   65.9%   -3.4 pts     64.7%   68.1%   -3.4 pts
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
                                   COMBINED
                       (AIR CANADA MAINLINE AND JAZZ)
    -------------------------------------------------------------------------
                              NOVEMBER                  YEAR-TO-DATE
                      -------------------------------------------------------
                       2008    2007  Change         2008    2007  Change
    -------------------------------------------------------------------------
    Traffic
     (RPMs millions)  3,217   3,395    -5.2%      46,783  46,637    +0.3%
    -------------------------------------------------------------------------
    Capacity
     (ASMs millions)  4,146   4,484    -7.5%      57,498  57,747    -0.4%
    -------------------------------------------------------------------------
    Load Factor        77.6%   75.7%   +1.9 pts     81.4%   80.8%   +0.6 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
              RPMs    1,110   1,136    -2.3%      14,994  15,035    -0.3%
             ----------------------------------------------------------------
     Canada   ASMs    1,416   1,455    -2.7%      18,699  18,672    +0.1%
             ----------------------------------------------------------------
              Load
               Factor  78.4%   78.1%   +0.3 pts     80.2%   80.5%   -0.3 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
              RPMs      548     633   -13.4%       7,324   7,891    -7.2%
    U.S.     ----------------------------------------------------------------
     Trans-   ASMs      734     858   -14.5%       9,546  10,217    -6.6%
     border  ----------------------------------------------------------------
              Load
               Factor  74.7%   73.8%   +0.9 pts     76.7%   77.2%   -0.5 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
              RPMs    1,559   1,626    -4.1%      24,465  23,711    +3.2%
    Interna- ----------------------------------------------------------------
     tional   ASMs    1,996   2,171    -8.1%      29,253  28,858    +1.4%
             ----------------------------------------------------------------
              Load
               Factor  78.1%   74.9%   +3.2 pts     83.6%   82.2%   +1.4 pts
    -------------------------------------------------------------------------

    %SEDAR: 00001324EF


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