MONTRÉAL, Feb. 24, 2026 (GLOBE NEWSWIRE) — Air Canada was named one of Canada’s Best Diversity Employers for 2026, the eighth time in a decade the airline has received this recognition.

“We’re proud to be recognized for our ongoing commitment to diversity, equity and inclusion. This award spotlights how our employees, resource groups, champions, leaders, and community partners work together to build a more fair, equitable, and inclusive future where everyone feels they belong,” said Arielle Meloul-Wechsler, Executive Vice President, Chief Human Resources Officer and Public Affairs at Air Canada.

Air Canada continues to foster a more inclusive workplace and industry through strategic partnerships, employee-driven initiatives, and proactive outreach to diverse communities during recruitment:

• Connecting with underrepresented communities to share aviation career opportunities.
• Partnerships with Canadian organizations and specialty colleges to provide scholarship opportunities for underrepresented communities studying to be pilots and aircraft mechanics.
• Establishing a robust internal governance structure that supports inclusion and belonging through all levels of the organization.
• Celebrating the diversity of our workforce through Employee Resource Groups and Champions for inclusion.

Canada’s Best Diversity Employers competition recognizes the nations’ leaders in creating inclusive workplaces for employees from five underrepresented groups: women, visible minorities, persons with disabilities, Indigenous peoples, and people who self-identify within 2SLGBTQIA+ communities. Employers are selected by the editors at Mediacorp based on submissions to the annual Canada’s Top 100 Employers project.

For more information on career opportunities with Air Canada please visit aircanada.com/careers. In addition to being named one of Canada’s Best Diversity Employers for 2026, Air Canada has recently been named one of Canada’s Top Employers for Young People for 2026.

About Air Canada

Air Canada is Canada’s largest airline, the country’s flag carrier and a founding member of Star Alliance, the world’s most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of 45 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers more travel choices than any other Canadian tour operator to hundreds of destinations worldwide, with a wide selection of hotels, flights, cruises, day tours, and car rentals. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050.

• New interline partnership unlocks convenient connections to Istanbul and Izmir 
• Air Canada customers gain access to nine routes operated by Pegasus Airlines
• Both airlines intend to deepen the partnership with codeshare and loyalty agreements
  

MONTRÉAL, Feb. 19, 2026 (GLOBE NEWSWIRE) — Air Canada and Pegasus Airlines announced today a new partnership that will give travellers more convenient access to Türkiye’s most in-demand destinations.

Through a new interline agreement, Air Canada customers will be able to book travel on nine Pegasus-operated routes, offering smooth connections via major European gateways to Istanbul and the Aegean coastal city of Izmir. The partnership strengthens Air Canada’s connectivity to a dynamic market, providing customers with greater choice and flexibility.

“Air Canada’s strategy is built on connecting people, markets, and opportunities around the world,” said Mary-Jane Lorette, Vice President, Revenue Management, Partnerships and International Affairs at Air Canada. “Our partnership with Pegasus Airlines expands our reach into Türkiye, offering customers more ways to explore one of the world’s most dynamic regions while reinforcing our role as a leading global airline.”

“We are pleased to partner with Air Canada to strengthen connectivity between Canada and Türkiye. This interline agreement will provide travellers with convenient access to Istanbul and İzmir via key European gateways, enhancing flexibility and ease of travel. We look forward to developing this partnership further as we continue expanding our international network,” said Onur Dedeköylü, Chief Commercial Officer at Pegasus Airlines.

Through the partnership, travellers flying to Air Canada’s European gateways of Amsterdam, Frankfurt, Copenhagen, Munich, Geneva, Vienna, Zurich and Athens, will enjoy easy onward connections to Istanbul Sabiha Gökçen International Airport, and from Frankfurt to İzmir Adnan Menderes Airport. In addition to increased flying options, customers will enjoy the benefits of a single itinerary and the convenience of through-checked baggage. Air Canada and Pegasus Airlines are also exploring expanding the partnership into a full codeshare in the future, which would include reciprocal loyalty program benefits and enhanced cooperation across both carriers’ international networks.

About Air Canada

Air Canada is Canada’s largest airline, the country’s flag carrier and a founding member of Star Alliance, the world’s most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of 45 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers more travel choices than any other Canadian tour operator to hundreds of destinations worldwide, with a wide selection of hotels, flights, cruises, day tours, and car rentals. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. 

About Pegasus Airlines

Established in 1990, Pegasus Airlines adopted a low-cost airline business model after being acquired by ESAS Holding in 2005. As a leading low-cost and digital-first carrier, Pegasus operates with the belief that everyone has the right to fly, offering budget-friendly travel on a young fleet of aircraft. Pegasus’ network extends to 158 destinations in 55 countries, spanning 39 domestic (Türkiye) and 119 international routes. Operating mainly through its primary hub at Istanbul Sabiha Gökçen Airport, and other airports in Türkiye, Pegasus offers its guest seamless connections between Türkiye and Europe, the Middle East and North Africa, and Asia. With a customer-focused approach, Pegasus also enhances the travel experience and value for its guests by offering digital innovations together with its comprehensive efforts for a cleaner, more equal and harmonious future, with the mission of Moving Towards a Sustainable Future. For more information on Pegasus Airlines, please visit the website.

• Delivered record operating revenues of $5.8 billion in the fourth quarter of 2025, reaching $22.4 billion for the full year
• Operating income of $918 million and adjusted EBITDA of $3.1 billion in 2025
• Generated $3.7 billion in net cash flows from operations and $747 million in free cash flow in 2025, deployed over $850 million in share buybacks
• Improved operational performance and customer sentiment scores year over year, recognized as the Best Airline in North America at the 2025 Skytrax World Airline Awards
• Experiencing strong momentum in bookings versus last year
  

MONTREAL, Feb. 12, 2026 (GLOBE NEWSWIRE) — Air Canada today reported its financial results for the fourth quarter and full year 2025 and provided its outlook for the full year 2026.

“Air Canada finished 2025 with a solid fourth quarter, delivering record revenues of $5.8 billion and achieving strong year‑over‑year earnings growth. For the full year, we generated $918 million in operating income and $3.1 billion in adjusted EBITDA. These results reflect our disciplined actions throughout the year, the strength of our commercial strategy, the loyalty of our customers, and—above all—the dedication and professionalism of our employees. I want to sincerely thank them for their hard work work through a demanding year and through the severe cold and record snowfall of recent storms,” said Michael Rousseau, President and Chief Executive of Air Canada.

“We delivered these results while effectively managing shifting demand trends, a labor disruption in the summer, and continued macroeconomic and geopolitical uncertainty. We maintained our focus on operational reliability, advanced our cost-reduction initiatives, and generated solid free cash flow, reinforcing the resilience of our business model and supporting disciplined capital allocation, including meaningful share repurchases.”

“As we look ahead to 2026, we are encouraged by the strong momentum in bookings and the opportunities created by our next phase of fleet investments. At the same time, we remain sharply focused on cost management, productivity, cash generation, and preserving balance-sheet flexibility. Air Canada enters 2026 from a position of strength, and we remain committed to creating sustained value for our customers, employees, and shareholders,” said Mr. Rousseau.

Fourth Quarter 2025 Financial Results

• Operating revenues of $5.770 billion
• Operating expenses of $5.446 billion
• Operating income of $324 million with an operating margin of 5.6% and adjusted EBITDA of $867 million with an adjusted EBITDA margin of 15.0%
• Income before income taxes of $342 million and adjusted pre-tax income of $244 million
• Net income of $296 million and diluted earnings per share of $1.00
• Adjusted net income of $191 million and adjusted earnings per diluted share of $0.65
• Adjusted CASM of 15.34 cents
• Net cash flows from operating activities of $423 million and free cash flow of negative $478 million
  

Full Year 2025 Financial Results

• Operating revenues of $22.372 billion
• Operating expenses of $21.454 billion
• Operating income of $918 million with an operating margin of 4.1% and adjusted EBITDA of $3.124 billion with an adjusted EBITDA margin of 14.0%
• Income before income taxes of $789 million and adjusted pre-tax income of $658 million
• Net income of $644 million and diluted earnings per share of $1.86
• Adjusted net income of $471 million and adjusted earnings per diluted share of $1.47
• Adjusted CASM of 14.72 cents
• Net cash flows from operating activities of $3,657 billion and free cash flow of $747 million
• Long-term debt and lease liabilities of $11,576 billion and leverage ratio of 1.7x
  

Outlook

For the first quarter of 2026, Air Canada plans to increase its operated capacity by about 2.5 per cent from the same quarter in 2025.

Air Canada is providing the following guidance for the full year 2026.

Major Assumptions

Air Canada made assumptions in providing its guidance—including a modest Canadian GDP growth for 2026. Air Canada assumes that the Canadian dollar will trade, on average, at C$1.36 per US dollar for the full year 2026 and that the price of jet fuel will average C$0.90 per liter for the full year 2026.

Air Canada has entered into non-binding letters for up to $2 billion in sale and leaseback transactions scheduled to close in 2026 and 2027, subject to the execution of definitive and binding agreements and completion of standard conditions precedent. As part of the assumptions for 2026 guidance, Air Canada has assumed execution on its sale-leaseback transactions for $1 billion in 2026.

Air Canada’s guidance constitutes forward-looking information within the meaning of applicable securities laws and is subject to important risks and uncertainties, including in relation to statements or actions by governments and uncertainty relating to the imposition of (or threats to impose) tariffs on Canadian exports or imports and their resulting impacts on the Canadian, North American and global economies and travel demand. Please see the discussion below under Caution Regarding Forward-looking Information.

2028 targets and 2030 aspirations

Air Canada announced the following long-term 2028 financial targets and 2030 aspirations in December 2024:

11 February 2026

Each February, Black History Month invites us to honour the stories, achievements, and contributions of Black communities across Canada. At Air Canada, this moment is more than a commemoration, it is a continuation of our commitment to uplifting Black youth, amplifying representation, and creating pathways that help the next generation soar.

This year, we partnered with the Pinball Foundation, co-founded 20 years ago by Michael “Pinball” Clemons and his wife, Diane, to celebrate the journeys of Black youth. Their stories reflect resilience, innovation, and courage, and inspire us to continue shaping a more inclusive, accessible future in aviation and beyond.

Earlier this month, a group of Black youth, business and community leaders embarked on a special one-day journey aboard an Air Canada aircraft – featuring an all-black crew of two pilots and three flight attendants – and travelled from Toronto to Halifax, where they visited the historic Pier 21. Called “Legacy Lift-Off”, the attendees walked in the footsteps of Black Canadian history in a place that welcomed thousands of newcomers, and also learned of the challenges and struggles the community endured.

Stories of the community’s history from Africville elders, Africville Museum Director Juanita Peters, as well as Clemons and his wife, Diane educated and inspired a room filled with business and community leaders, as well as students that are supported by the Pinball Foundation’s work.

“Black History Month is an opportunity to honour the resilience, achievement, and leadership of Black communities across Canada, and to reflect on the shared responsibility we all have in building a more inclusive future. At Air Canada, we believe deeply in the power of possibility, especially when young people can see their potential reflected at them,” said Arielle Meloul-Wechsler, Executive Vice President, Chief Human Resources Officer and Public Affairs at Air Canada. “We are proud to stand alongside the Pinball Foundation to help create pathways that empower Black youth to pursue horizons they may once have only imagined. This month, and every month, we remain committed to supporting that future leaders in aviation and beyond can rise with confidence, purpose, and pride. Their stories are Canada’s future, and we are honoured to help them take flight.”

“Legacy Lift-Off was a powerful day dedicated to learning about Canada’s history and the untold stories of Africville. From the moment we gathered at Gate D33, the energy was palpable. Air Canada welcomed us onboard with an all-Black flight crew – an intentional act of representation that resonated deeply, particularly with our youth. The theme of intentionality permeated throughout this day of reflection and fellowship. Guided by Africville elders, we listened, learned, and honoured the past while envisioning the future; a future where under-resourced youth are supported through access to education, mentorship, and employment opportunities,” said Michael Clemons.

“Most importantly, Legacy Lift-Off reminded us that Black history is Canadian history. We are incredibly proud and grateful to partner with Air Canada on this unique and unforgettable experience, where we reinforced our commitment to youth, and had the privilege of showing young people that their dreams truly can take flight.”

Air Canada’s collaboration with the Pinball Foundation aligns with our long‑standing belief that representation makes a difference – in our workplaces, our flight decks, our maintenance hangars, our customer-facing teams, and throughout the communities we serve. By investing in youth today, Air Canada is helping to create opportunities for Black youth to dream big, take flight, and pursue futures filled with purpose and potential is more than a sponsorship, it is a shared mission to create transformational outcomes for young people.