Air Canada announces long-term plan and goals for 2028

As we close out 2024, Air Canada reaffirmed its full-year financial guidance with certain specific expectations and recently announced guidance for 2025, as well as key financial targets for 2028 and ambitions for 2030. The announcement, along with presentation materials, are available at aircanada.com/investors.

“We are proud and excited to share Air Canada’s ambitions. We are announcing a long-term plan built on a proven business strategy. Air Canada’s performance history exemplifies our ability to execute and deliver on commitments. Building on the unique strengths developed over the past decade, our strategy seeks to reach greater heights through consistent margin expansion and structural cash generation, while maintaining a strong balance sheet and responsible risk profile. Our plan includes expanding the network, enhancing the customer experience, taking care of our employees, increasing financial performance and continuing to invest in the business to generate long-term value for investors, taking into account the preferences of our stakeholders. We believe we are very well positioned to execute on our long-term plans,” said Michael Rousseau, President and CEO of Air Canada.

During Investor Day 2024, Mr. Rousseau and members of the executive team provided details on Air Canada's strategy, investment plans and financial objectives.

Air Canada made certain assumptions in providing its guidance for 2024 and 2025, including moderate growth in Canada’s GDP for both years. It also assumed that the Canadian dollar would average C$1.36 during 2024 and C$1.40 in 2025, and that the price of jet fuel would average C$1.00 and C$0.95 per litre in those same years.

Additionally, Air Canada shared its expectations for certain financial metrics for reporting in 2024, its long-term financial targets for 2028 and its aspirations for 2030, which are outlined below and were discussed during the Investor Day presentations.

The long-term 2028 goals and 2030 aspirations presented in this release do not constitute financial guidance or outlook but are provided for the purpose of helping to measure progress towards Air Canada's objectives. The reader is cautioned that using this information for other purposes may not be appropriate. Air Canada may revise these goals and aspirations as the economic, geopolitical, market and regulatory environments change. These goals and aspirations are used as targets in executing strategic priorities and assume a normal business environment. Air Canada's ability to achieve them is also dependent on success in achieving business initiatives and objectives outlined in the 2024 Investor Day presentations, available shortly at aircanada.com/investors , including, but not limited to , increasing revenue, expanding fleet and network capacity, and executing other key investments and initiatives, as well as other important assumptions described in this release and subject to various risks and uncertainties.

Source: Air Canada.