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Air Canada reports January traffic
    System passenger load factor of 77.8% - highest ever for January

    MONTREAL, Feb. 6 /CNW Telbec/ - Air Canada reported a system load factor
of 77.8 per cent in January 2007, the highest ever for the first month of the
year and the fourth consecutive month of record system load factors.
    The mainline carrier flew 2.7 per cent more revenue passenger miles
(RPMs) in January 2007 than in January 2006, according to preliminary traffic
figures. Capacity increased by 2.0 per cent, resulting in a load factor of
78.6 per cent, compared to 78.1 per cent in January 2006; an increase of
0.5 percentage points.
    Jazz, from whom Air Canada purchases regional capacity, flew
19.3 per cent more RPMs in January 2007 than in January 2006, according to
preliminary traffic figures. Capacity increased by 14.1 per cent, resulting in
a load factor of 69.3 per cent, compared to 66.2 per cent in January 2006; an
increase of 3.1 percentage points.
    Year over year, system traffic on a combined basis for Air Canada and
Jazz, rose 3.9 per cent on a capacity increase of 2.9 per cent, resulting in a
load factor of 77.8 per cent; an increase of 0.7 percentage points.
    "Air Canada recorded its best ever load factor for the month of January,
marking a continuation of the strong traffic trends of the last quarter of
2006," said Montie Brewer, President and Chief Executive Officer. "That we
were able to increase our load factor and capacity in this normally
challenging month shows we are successfully combining our product innovations,
including our simplified fare structure and new aircraft, with a disciplined
approach to growth. Customers are demonstrating an increasing preference for
Air Canada's services and our employees are working hard to earn and keep
their loyalty."

    This discussion contains certain forward-looking statements, which
involve a number of risks and uncertainties. As a result of many factors
including acts or potential acts of terrorism, international conflicts,
government regulations and government mandated restrictions on operations and
pricing, fuel prices, industry restructuring, labour negotiations, the
economic environment in general including foreign exchange and interest rates,
the airline competitive and pricing environment, industry capacity decisions
and new entrants as well as external events, actual results could differ from
expected results and the differences could be material.

                                 AIR CANADA
    -------------------------------------------------------------------------
                             AIR CANADA MAINLINE
                               (Includes Jetz)
    -------------------------------------------------------------------------
                                  JANUARY                 YEAR-TO-DATE
                            -------------------------------------------------
                            2007    2006    Change    2007    2006    Change
    -------------------------------------------------------------------------
    Traffic (RPMs
     millions)             3,595   3,500     +2.7%   3,595   3,500     +2.7%
    -------------------------------------------------------------------------
    Capacity (ASMs
     millions)             4,571   4,483     +2.0%   4,571   4,483     +2.0%
    -------------------------------------------------------------------------
    Load Factor            78.6%   78.1%  +0.5 pts   78.6%   78.1%  +0.5 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Canada         RPMs      920     874     +5.3%     920     874     +5.3%
                   ----------------------------------------------------------
                   ASMs    1,166   1,151     +1.3%   1,166   1,151     +1.3%
                   ----------------------------------------------------------
                   Load
                   Factor  78.9%   75.9%  +3.0 pts   78.9%   75.9%  +3.0 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    U.S.
     Transborder   RPMs      704     661     +6.5%     704     661     +6.5%
                   ----------------------------------------------------------
                   ASMs      956     860    +11.2%     956     860    +11.2%
                   ----------------------------------------------------------
                   Load
                   Factor  73.6%   76.9%   3.3 pts   73.6%   76.9%  -3.3 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Atlantic       RPMs      799     775     +3.1%     799     775     +3.1%
                   ----------------------------------------------------------
                   ASMs      998     982     +1.6%     998     982     +1.6%
                   ----------------------------------------------------------
                   Load
                   Factor  80.1%   78.9%  +1.2 pts   80.1%   78.9%  +1.2 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Pacific        RPMs      650     657     -1.1%     650     657     -1.1%
                   ----------------------------------------------------------
                   ASMs      795     796     -0.1%     795     796     -0.1%
                   ----------------------------------------------------------
                   Load
                   Factor  81.8%   82.5%  -0.7 pts   81.8%   82.5%  -0.7 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Latin America
     & Other       RPMs      522     533     -2.1%     522     533     -2.1%
                   ----------------------------------------------------------
                   ASMs      656     694     -5.5%     656     694     -5.5%
                   ----------------------------------------------------------
                   Load
                   Factor  79.6%   76.8%  +2.8 pts   79.6%   76.8%  +2.8 pts
    -------------------------------------------------------------------------


                               AIR CANADA JAZZ
    -------------------------------------------------------------------------
                   AIR CANADA'S REGIONAL CAPACITY PROVIDER
                                   (Jazz)
    -------------------------------------------------------------------------
                                  JANUARY                 YEAR-TO-DATE
                            -------------------------------------------------
                            2007    2006    Change    2007    2006    Change
    -------------------------------------------------------------------------
    Traffic (RPMs
     millions)               309     259    +19.3%     309     259    +19.3%
    -------------------------------------------------------------------------
    Capacity (ASMs
     millions)               446     391    +14.1%     446     391    +14.1%
    -------------------------------------------------------------------------
    Load Factor            69.3%   66.2%  +3.1 pts   69.3%   66.2%  +3.1 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Canada         RPMs      230     198    +16.2%     230     198    +16.2%
                   ----------------------------------------------------------
                   ASMs      318     290     +9.7%     318     290     +9.7%
                   ----------------------------------------------------------
                   Load
                   Factor  72.3%   68.3%  +4.0 pts   72.3%   68.3%  +4.0 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    U.S.
     Transborder   RPMs       79      61    +29.5%      79      61    +29.5%
                   ----------------------------------------------------------
                   ASMs      128     101    +26.7%     128     101    +26.7%
                   ----------------------------------------------------------
                   Load
                   Factor  61.7%   60.4%  +1.3 pts   61.7%   60.4%  +1.3 pts
    -------------------------------------------------------------------------


                         AIR CANADA & AIR CANADA JAZZ
    -------------------------------------------------------------------------
                                   COMBINED
                       (AIR CANADA MAINLINE AND JAZZ)
    -------------------------------------------------------------------------
                                  JANUARY                 YEAR-TO-DATE
                            -------------------------------------------------
                            2007    2006    Change    2007    2006    Change
    -------------------------------------------------------------------------
    Traffic (RPMs
     millions)             3,904   3,759     +3.9%   3,904   3,759     +3.9%
    -------------------------------------------------------------------------
    Capacity (ASMs
     millions)             5,017   4,874     +2.9%   5,017   4,874     +2.9%
    -------------------------------------------------------------------------
    Load Factor            77.8%   77.1%  +0.7 pts   77.8%   77.1%  +0.7 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Canada         RPMs    1,150   1,072     +7.3%   1,150   1,072     +7.3%
                   ----------------------------------------------------------
                   ASMs    1,484   1,441     +3.0%   1,484   1,441     +3.0%
                   ----------------------------------------------------------
                   Load
                   Factor  77.5%   74.4%  +3.1 pts   77.5%   74.4%  +3.1 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    U.S.
     Transborder   RPMs      783     722     +8.4%     783     722     +8.4%
                   ----------------------------------------------------------
                   ASMs    1,084     961    +12.8%   1,084     961    +12.8%
                   ----------------------------------------------------------
                   Load
                   Factor  72.2%   75.1%  -2.9 pts   72.2%   75.1%  -2.9 pts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    International  RPMs    1,971   1,965     +0.3%   1,971   1,965     +0.3%
                   ----------------------------------------------------------
                   ASMs    2,449   2,472     -0.9%   2,449   2,472     -0.9%
                   ----------------------------------------------------------
                   Load
                   Factor  80.5%   79.5%  +1.0 pts   80.5%   79.5%  +1.0 pts
    -------------------------------------------------------------------------

    %SEDAR: 00024384EF
For further information: Isabelle Arthur (Montréal), (514) 422-5788; Peter Fitzpatrick (Toronto), (416) 263-5576; Angela Mah (Vancouver), (604) 270-5741; Internet: aircanada.com