Air Canada launches private offering of enhanced equipment trust certificates

Air Canada launched a private offering of three tranches of enhanced equipment trust certificates with an aggregate face amount of U.S.$537,092,000 (the “Certificates”). Each class of Certificates will represent an interest in a related pass through trust. The trusts will use the proceeds from the offering to acquire equipment notes to be issued by Air Canada and secured by three new Boeing 787-9 aircraft and two new Boeing 777-300ER aircraft, which are currently scheduled for delivery in April and May 2016. The security interest in each of the aircraft will benefit from the protections of the Cape Town Convention on International Interests in Mobile Equipment and the Protocol thereto on Matters Specific to Aircraft Equipment, as enacted in Canada. Air Canada will use the proceeds from the sale of the equipment notes to finance the acquisition of these new aircraft.