Factors
that
may
cause
results
to
differ
materially
from
results
indicated
in
forward-looking
statements
include
economic conditions,
including high or volatile fuel prices or significant disruptions in the supply of aircraft fuel, including as a result of the military conflict in the Middle East, 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,
geopolitical
and security conditions
including in relation to the
military
conflicts
in
the
Middle
East
and
between
Russia
and
Ukraine,
Air Canada’s
ability
to
successfully
achieve
or
sustain
positive
net
profitability,
industry
and
market
conditions
and
the
demand environment, competition, Air Canada’s dependence on technology, cybersecurity risks, interruptions of service, climate change and environmental factors (including weather systems and other natural phenomena and factors arising from anthropogenic
sources),
Air Canada’s
dependence
on
key
suppliers
(including
government
agencies
and
other
stakeholders supporting
airport
and
airline
operations),
employee
and
labour
relations
and
costs,
Air
Canada’s
ability
to
successfully implement
appropriate
strategic
and
other
important
initiatives
(including
Air
Canada’s
ability
to
manage
operating
costs), energy
prices,
Air
Canada’s
ability
to
pay
its
indebtedness
and
maintain
or
increase
liquidity,
Air
Canada’s
dependence
on regional
and
other
carriers,
Air
Canada’s
ability
to
attract
and
retain
required
personnel,
epidemic
diseases,
changes
in laws,
regulatory
developments
or
proceedings,
terrorist
acts,
war,
Air
Canada’s
ability
to
successfully
operate
its
loyalty program,
casualty
losses,
Air
Canada’s
dependence
on
Star Alliance®
and
joint
ventures,
Air
Canada’s
ability
to
preserve and
grow
its
brand,
pending
and
future
litigation
and
actions
by
third
parties,
currency
exchange
fluctuations,
limitations due
to
restrictive
covenants,
insurance
issues
and
costs,
and
pension
plan
obligations
as
well
as
the
factors
identified
in
Air Canada’s public disclosure file available at www.sedarplus.ca
and, in particular, those identified in section 14 “Risk Factors”
of
Air
Canada’s
Second Quarter 2026 MD&A
and
in
section 18 “Risk
Factors”
of
Air
Canada’s
2025 MD&A.