About Air Canada

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Air Canada provides information on its cash position

    MONTREAL, Aug. 23 /CNW Telbec/ - In response to recent media inquiries,
Air Canada confirms that it has a minimal exposure of approximately
$37 million in asset-backed commercial paper (ABCP).  Air Canada's cash
position of approximately $1.4 billion remains very strong and the Corporation
does not foresee any meaningful impact to it resulting from the current
liquidity situation regarding ABCP.



For further information:
For further information: Isabelle Arthur (Montréal), (514) 422-5788;
Peter Fitzpatrick (Toronto), (416) 263-5576; Angela Mah (Vancouver), (604)
270-5741; aircanada.com