Air Canada Expands Strategic Relationship With United Airlines

Air Canada (AC) has signed a deal to expand its relationship with Chicago-based United
Airlines (UAL) and offer more flights to the U.S.

The new deal builds on an existing relationship the two airlines have in the transborder Canada-
U.S. market.

Air Canada said the new arrangement represents the next phase in its already established
relationship with United Airlines, and that it will help it to recover financially from the COVID-19

Air Canada has reported that it lost nearly $4 billion during the global pandemic, when its flights
were cancelled, or the airline was forced to operate at reduced capacity.

Going forward, the airlines said they will co-ordinate their networks and schedules, a move Air
Canada said will enable them to offer more choice to the public.

Air Canada and United Airlines will also sell seats on each other's cross-border flights and share
revenue on flights where regulators in Canada and the U.S. allow.

Air Canada stock is down 24% year-to-date at $16.91 per share. United Airlines stock has fallen
20% this year and now trades at $36.33 U.S. a share.