Air Canada has agreed to repurchase US$174.3 million aggregate principal amount of its outstanding 4.000% convertible senior notes due 2025 for US$209 million (C$274 million), including accrued interest.  The repurchases are expected to close on or about September 13, 2022, subject to customary closing conditions. Following the closing of the repurchases and the cancellation of the repurchased notes, US$573.2 million will remain outstanding.

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