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    AC   CA0089118776

AIR CANADA

(AC)
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Delayed Toronto Stock Exchange  -  04:00 2022-09-30 pm EDT
16.60 CAD   -0.90%
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Air Canada : CEO & CFO Certificates

08/02/2022 | 09:42am EDT

FORM 52-109F2

CERTIFICATION OF INTERIM FILINGS

FULL CERTIFICATE

I, Michael Rousseau, President and Chief Executive Officer of AIR CANADA, certify the following:

  1. Review: I have reviewed the interim financial report and interim MD&A (together, the "interim filings") of AIR CANADA (the "issuer") for the interim period ended June 30, 2022.
  2. No misrepresentations: Based on my knowledge, having exercised reasonable diligence, the interim filings do not contain any untrue statement of a material fact or omit to state a material fact required to be stated or that is necessary to make a statement not misleading in light of the circumstances under which it was made, with respect to the period covered by the interim filings.
  3. Fair presentation: Based on my knowledge, having exercised reasonable diligence, the interim financial report together with the other financial information included in the interim filings fairly present in all material respects the financial condition, financial performance and cash flows of the issuer, as of the date of and for the periods presented in the interim filings.
  4. Responsibility: The issuer's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (DC&P) and internal control over financial reporting (ICFR), as those terms are defined in National Instrument 52-109Certification of Disclosure in Issuers'
    Annual and Interim Filings, for the issuer.
  5. Design: Subject to the limitations, if any, described in paragraphs 5.2 and 5.3, the issuer's other certifying officer(s) and I have, as at the end of the period covered by the interim filings
    1. designed DC&P, or caused it to be designed under our supervision, to provide reasonable assurance that
      1. material information relating to the issuer is made known to us by others, particularly during the period in which the interim filings are being prepared; and
      2. information required to be disclosed by the issuer in its annual filings, interim filings or other reports filed or submitted by it under securities legislation is recorded, processed, summarized and reported within the time periods specified in securities legislation; and
    2. designed ICFR, or caused it to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with the issuer's GAAP.
  1. Control framework: The control framework the issuer's other certifying officer(s) and I used to design the issuer's ICFR is Internal Control - Integrated Framework (COSO Framework) published by The Committee of Sponsoring Organizations of the Treadway Commission (COSO).
  2. N/A
  3. N/A

6. Reporting changes in ICFR: The issuer has disclosed in its interim MD&A any change in the issuer's

ICFR that occurred during the period beginning on January 1, 2022 and ended on June 30, 2022 that has materially affected, or is reasonably likely to materially affect, the issuer's ICFR.

Dated: August 2, 2022

(signed) Michael Rousseau

Michael Rousseau

President and Chief Executive Officer

AIR CANADA

FORM 52-109F2

CERTIFICATION OF INTERIM FILINGS

FULL CERTIFICATE

I, Amos S. Kazzaz, Executive Vice President and Chief Financial Officer of AIR CANADA, certify the following:

  1. Review: I have reviewed the interim financial report and interim MD&A (together, the "interim filings") of AIR CANADA (the "issuer") for the interim period ended June 30, 2022.
  2. No misrepresentations: Based on my knowledge, having exercised reasonable diligence, the interim filings do not contain any untrue statement of a material fact or omit to state a material fact required to be stated or that is necessary to make a statement not misleading in light of the circumstances under which it was made, with respect to the period covered by the interim filings.
  3. Fair presentation: Based on my knowledge, having exercised reasonable diligence, the interim financial report together with the other financial information included in the interim filings fairly present in all material respects the financial condition, financial performance and cash flows of the issuer, as of the date of and for the periods presented in the interim filings.
  4. Responsibility: The issuer's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (DC&P) and internal control over financial reporting (ICFR), as those terms are defined in National Instrument 52-109Certification of Disclosure in Issuers'
    Annual and Interim Filings, for the issuer.
  5. Design: Subject to the limitations, if any, described in paragraphs 5.2 and 5.3, the issuer's other certifying officer(s) and I have, as at the end of the period covered by the interim filings
    1. designed DC&P, or caused it to be designed under our supervision, to provide reasonable assurance that
      1. material information relating to the issuer is made known to us by others, particularly during the period in which the interim filings are being prepared; and
      2. information required to be disclosed by the issuer in its annual filings, interim filings or other reports filed or submitted by it under securities legislation is recorded, processed, summarized and reported within the time periods specified in securities legislation; and
    2. designed ICFR, or caused it to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with the issuer's GAAP.
  1. Control framework: The control framework the issuer's other certifying officer(s) and I used to design the issuer's ICFR is Internal Control - Integrated Framework (COSO Framework) published by The Committee of Sponsoring Organizations of the Treadway Commission (COSO).
  2. N/A
  3. N/A

6. Reporting changes in ICFR: The issuer has disclosed in its interim MD&A any change in the issuer's

ICFR that occurred during the period beginning on January 1, 2022 and ended on June 30, 2022 that has materially affected, or is reasonably likely to materially affect, the issuer's ICFR.

Dated: August 2, 2022

(signed) Amos S. Kazzaz

Amos S. Kazzaz

Executive Vice President and

Chief Financial Officer

AIR CANADA

Disclaimer

Air Canada published this content on 02 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2022 13:41:02 UTC.


© Publicnow 2022
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Sales 2022 15 913 M 11 590 M 11 590 M
Net income 2022 -1 134 M -826 M -826 M
Net Debt 2022 7 677 M 5 592 M 5 592 M
P/E ratio 2022 -5,01x
Yield 2022 -
Capitalization 5 958 M 4 340 M 4 340 M
EV / Sales 2022 0,86x
EV / Sales 2023 0,65x
Nbr of Employees 28 400
Free-Float 84,7%
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Technical analysis trends AIR CANADA
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Mean consensus BUY
Number of Analysts 16
Last Close Price 16,60 CAD
Average target price 26,75 CAD
Spread / Average Target 61,1%
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Michael Stewart Rousseau President, Chief Executive Officer & Director
Amos S. Kazzaz Chief Financial Officer & Executive Vice President
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