Air Canada announces adoption of Advance Notice By-law

 MONTREAL, March 27, 2014 /CNW Telbec/ - Air Canada announced today that its  board of directors approved the adoption of an advance notice by-law (the  "Advance Notice By-law"), establishing a framework for advance notice of  nominations of directors by shareholders of Air Canada. Among other things,  the Advance Notice By-law fixes certain deadlines by which shareholders must  submit a notice of director nominations to Air Canada prior to any annual or  special meeting of shareholders where directors are to be elected and sets  forth the information that must be included in the notice.  The Advance Notice By-law provides a clear process for shareholders to follow  for director nominations and sets out a reasonable time frame for the  submissions of nominees and the accompanying information. The Advance Notice  By-law will help to ensure that all shareholders receive adequate notice of  the nominations to be considered at a meeting and can thereby exercise their  voting rights in an informed manner. The Advance Notice By-law is similar to  the advance notice by-laws adopted by many other Canadian public companies.  More specifically, the Advance Notice By-law requires advance notice to the  Corporation in circumstances where nominations of persons for election as a  director of Air Canada are made by shareholders other than pursuant to (i) a  requisition of a meeting made pursuant to the provisions of the Canada  Business Corporations Act (the "Act"), or (ii) a shareholder proposal made in  accordance with the provisions of the Act.  In the case of an annual meeting of shareholders, notice to the Corporation  must be given not less than 30 or more than 65 days prior to the date of the  annual meeting. In the event that the annual meeting is to be held on a date  that is less than 50 days after the date on which the first public  announcement of the date of the annual meeting was made, notice may be given  not later than the close of business on the 10th day following such public  announcement.  In the case of a special meeting of shareholders (which is not also an annual  meeting), notice to the Corporation must be given not later than the close of  business on the 15th day following the day on which the first public  announcement of the date of the special meeting was made.  The Advance Notice By-law is effective immediately and will be placed before  shareholders for approval, confirmation and ratification at the next annual  and special meeting of shareholders of the Corporation to be held on May 15,  2014. The full text of the Advance Notice By-law is available under Air  Canada's profile at  About Air Canada  Air Canada is Canada's largest domestic and international airline serving more  than 180 destinations on five continents. Canada's flag carrier is among the  20 largest airlines in the world and in 2013 served more than 35 million  customers. Air Canada provides scheduled passenger service directly to 60  Canadian cities, 49 destinations in the United States and 72 cities in Europe,  the Middle East, Asia, Australia, the Caribbean, Mexico and South America. Air  Canada is a founding member of Star Alliance, the world's most comprehensive  air transportation network serving 1,328 destinations in 195 countries. Air  Canada is the only international network carrier in North America to receive a  Four-Star ranking according to independent U.K. research firm Skytrax that  ranked Air Canada in a worldwide survey of more than 18 million airline  passengers as Best Airline in North America in 2013 for the fourth consecutive  year. For more information, please visit:  Caution Regarding Forward-Looking Information  Air Canada's public communications may include forward-looking statements  within the meaning of applicable securities laws. Forward-looking statements,  by their nature, are based on assumptions and are subject to important risks  and uncertainties. Forward-looking statements cannot be relied upon due to,  amongst other things, changing external events and general uncertainties of  the business. Actual results may differ materially from results indicated in  forward-looking statements due to a number of factors, including without  limitation, industry, market, credit and economic conditions, the ability to  reduce operating costs and secure financing, pension issues, energy prices,  employee and labour relations, currency exchange and interest rates,  competition, war, terrorist acts, epidemic diseases, environmental factors  (including weather systems and other natural phenomena and factors arising  from man-made sources), insurance issues and costs, changes in demand due to  the seasonal nature of the business, supply issues, changes in laws,  regulatory developments or proceedings, pending and future litigation and  actions by third parties as well as the factors identified throughout Air  Canada's public disclosure file available at, and, in respect of  the Advance Notice By-law, the obtaining of the required shareholder approval  at Air Canada's May 15, 2014 annual and special meeting of shareholders or any  adjournment or postponement thereof. Any forward- looking statements contained  in this news release represent Air Canada's expectations as of date of this  news release and are subject to change after such date. In particular, the  Advance Notice By-law will cease to be effective if it is rejected by  shareholders at Air Canada's May 15, 2014 annual and special meeting of  shareholders. However, Air Canada disclaims any intention or obligation to  update or revise any forward-looking statements whether as a result of new  information, future events or otherwise, except as required under applicable  securities regulations.    SOURCE  Air Canada  IsabelleArthur (Montréal)514 422-5788 PeterFitzpatrick  (Toronto)416 263-5576 AngelaMah (Vancouver)604 270-5741  To view this news release in HTML formatting, please use the following URL:  CO: Air Canada - Corporate - Finance ST: Quebec NI: AIR FIN TNM MNA