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Air Canada reports record October load factor

    MONTREAL, Nov. 6 /CNW Telbec/ - For the month of October, Air Canada
today reported a load factor of 80.2 per cent on a consolidated basis with
Jazz, a record for the month, versus 78.6 per cent in October 2007, an
increase of 1.6 percentage points. System traffic decreased 3.9 per cent on a
capacity decrease of 5.9 per cent system wide.
    Air Canada mainline reported a load factor of 81.2 per cent, also a
record for the month, compared to 79.1 per cent in October 2007; an increase
of 2.1 percentage points. The mainline carrier flew 4.0 per cent fewer revenue
passenger miles (RPMs) in October 2008 than in October 2007 on a capacity
decrease of 6.5 per cent, according to preliminary traffic figures.
    Jazz, from which Air Canada purchases regional capacity, flew 3.3 per
cent fewer RPMs in October 2008 than in October 2007, according to preliminary
traffic figures. Capacity remained stable from October 2007, resulting in a
load factor of 71.6 per cent, compared to 74.0 per cent in October 2007; a
decrease of 2.4 percentage points.
    "Air Canada reported a record load factor of 80.2 per cent for the month
of October, on a combined basis with Jazz," said Montie Brewer, President and
Chief Executive Officer. "These strong results reflect our disciplined
approach to capacity management that ensures capacity is adjusted effectively
to meet demand in a weakening North American market. I am particularly proud
of our employees who for the seventh consecutive month exceeded On-Time
Performance objectives for the month of October."

    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)
    -------------------------------------------------------------------------
                              OCTOBER                    YEAR-TO-DATE
    -------------------------------------------------------------------------
                       2008    2007  Change         2008    2007  Change
    -------------------------------------------------------------------------
    Traffic
     (RPMs millions)  3,550   3,697    -4.0%      40,055  39,640    +1.0%
    -------------------------------------------------------------------------
    Capacity
     (ASMs millions)  4,371   4,675    -6.5%      48,533  48,434    +0.2%
    -------------------------------------------------------------------------
    Load Factor        81.2%   79.1%   +2.1 pts    82.5%    81.8%   +0.7 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
              RPMs    1,039   1,070    -2.9%      11,331  11,194    +1.2%
             ----------------------------------------------------------------
    Canada    ASMs    1,275   1,335    -4.5%      13,938  13,701    +1.7%
             ----------------------------------------------------------------
              Load
               Factor  81.5%   80.1%   +1.4 pts     81.3%   81.7%   -0.4 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
              RPMs      468     578   -19.0%       5,819   6,361    -8.5%
    U.S.     ----------------------------------------------------------------
     Trans-   ASMs      584     747   -21.8%       7,338   8,046    -8.8%
     border  ----------------------------------------------------------------
              Load
               Factor  80.1%   77.4%   +2.7 pts     79.3%   79.1%   +0.2 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
              RPMs    1,007   1,010    -0.3%      10,908  10,859    +0.5%
             ----------------------------------------------------------------
    Atlantic  ASMs    1,220   1,294    -5.7%      12,753  12,959    -1.6%
             ----------------------------------------------------------------
              Load
               Factor  82.5%   78.1%   +4.4 pts     85.5%   83.8%   +1.7 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
              RPMs      725     743    -2.4%       7,476   7,470    +0.1%
             ----------------------------------------------------------------
    Pacific   ASMs      860     914    -5.9%       8,890   8,971    -0.9%
             ----------------------------------------------------------------
              Load
               Factor  84.3%   81.3%   +3.0 pts     84.1%   83.3%   +0.8 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
              RPMs      311     296    +5.1%       4,521   3,756   +20.4%
    Latin    ----------------------------------------------------------------
     America  ASMs      432     385   +12.2%       5,614   4,757   +18.0%
     & Other ----------------------------------------------------------------
              Load
               Factor  72.0%   76.9%   -4.9 pts     80.5%   79.0%   +1.5 pts
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
                   AIR CANADA'S REGIONAL CAPACITY PROVIDER
                                   (JAZZ)
    -------------------------------------------------------------------------
                             OCTOBER                   Year-To-Date
    -------------------------------------------------------------------------
                       2008    2007  Change         2008    2007  Change
    -------------------------------------------------------------------------
    Traffic
    (RPMs millions)     350     362    -3.3%       3,511   3,602    -2.5%
    -------------------------------------------------------------------------
    Capacity
     (ASMs millions)    489     489     0.0%       4,818   4,829    -0.2%
    -------------------------------------------------------------------------
    Load Factor        71.6%   74.0%   -2.4 pts     72.9%   74.6%   -1.7 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
              RPMs      242     272   -11.0%       2,554   2,705    -5.6%
             ----------------------------------------------------------------
    Canada    ASMs      318     354   -10.2%       3,345   3,516    -4.9%
             ----------------------------------------------------------------
              Load
               Factor  76.1%   76.8%   -0.7 pts     76.4%   76.9%   -0.5 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
              RPMs      108      90   +20.0%         957     897    +6.7%
    U.S.     ----------------------------------------------------------------
     Trans-   ASMs      171     135   +26.7%       1,473   1,313   +12.2%
     border  ----------------------------------------------------------------
              Load
               Factor  63.2%   66.7%   -3.5 pts     65.0%   68.3%   -3.3 pts
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
                                   COMBINED
                       (AIR CANADA MAINLINE AND JAZZ)
    -------------------------------------------------------------------------
                             OCTOBER                  Year-To-Date
             ----------------------------------------------------------------
                       2008    2007  Change         2008    2007  Change
    -------------------------------------------------------------------------
    Traffic
     (RPMs millions)  3,900   4,059    -3.9%      43,566  43,242    +0.7%
    -------------------------------------------------------------------------
    Capacity
     (ASMs millions)  4,860   5,164    -5.9%      53,351  53,263    +0.2%
    -------------------------------------------------------------------------
    Load Factor        80.2%   78.6%   +1.6 pts     81.7%   81.2%   +0.5 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
              RPMs    1,281   1,342    -4.5%      13,885  13,899    -0.1%
             ----------------------------------------------------------------
     Canada   ASMs    1,593   1,689    -5.7%      17,283  17,217    +0.4%
             ----------------------------------------------------------------
              Load
               Factor  80.4%   79.5%   +0.9 pts     80.3%   80.7%   -0.4 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
              RPMs      576     668   -13.8%       6,776   7,258    -6.6%
    U.S.     ----------------------------------------------------------------
     Trans-   ASMs      755     882   -14.4%       8,811   9,359    -5.9%
     border  ----------------------------------------------------------------
              Load
               Factor  76.3%   75.7%   +0.6 pts     76.9%   77.6%   -0.7 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
              RPMs    2,043   2,049    -0.3%      22,905  22,085    +3.7%
    Interna- ----------------------------------------------------------------
     tional   ASMs    2,512   2,593    -3.1%      27,257  26,687    +2.1%
             ----------------------------------------------------------------
              Load
               Factor  81.3%   79.0%   +2.3 pts     84.0%   82.8%   +1.2 pts
    -------------------------------------------------------------------------

    %SEDAR: 00001324EF


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