Air China and Air Canada to form comprehensive strategic alliance,

Air Canada and Air China have concluded a memorandum of understanding setting out the main principles for a comprehensive revenue sharing joint venture providing for an enhanced partnership on routes between Canada and China which will stimulate traffic growth between the two countries. The joint venture will generate additional service and pricing benefits for consumers travelling between the two countries as well as provide for enhanced cooperation between the two carriers in the areas of sales, marketing and airport operations. Subject to Air Canada and Air China making the necessary filings, obtaining competition and other regulatory approvals and finalizing documentation, the joint venture is expected to come into effect by the end of 2015.