Air Canada (TSX: AC) announces an Equity Buyback for CAD 500 million worth of its shares.

Published: 2025-05-13 17:21:00 ET AC.TO

Published on 05/13/2025 at 17:21, updated on 05/14/2025 at 00:05

Air Canada (TSX:AC) announces a share repurchase program. Under the substantial course issuer bid, the company will repurchase up to CAD 500 million of its Class A Variable Voting Shares and Class B Voting Shares. The shares will be repurchased at a price not less than CAD 18.5 per Share and not more than CAD 21 per Share.

The shares repurchased will be cancelled. The purpose of the bid is to reduce the number of outstanding shares and address some of the shareholder dilution experienced from financing decisions necessary during the COVID pandemic and increase shareholder value. The company expects to fund any purchases of shares pursuant to the bid with available cash on hand.

If the bid is oversubscribed, the company will prorate the number of shares accepted for payment. The repurchased shares will be cancelled. The bid will expire on June 20, 2025.

As of May 13, 2025, the company had 322,726,980 shares issued and outstanding.