Air Canada Renews Strategic Partnership with American Express for its Participation in Air Canada's

• New premium American Express card products to launch with Air Canada's new loyalty program in 2020
• 10-year deal will provide continuity for joint customers
• The companies will expand and deepen their partnership in the consumer, small business and corporate space

Air Canada and American Express today announced that they have concluded agreements for a renewed and expanded partnership that will enable the financial services company to participate in Air Canada's new loyalty program launching in 2020. The 10-year agreements cover the creation of new co-branded payment cards, participation in the American Express Membership Rewards program, and expanded commercial cooperation between the two companies.

"We're excited to renew Air Canada's long-standing relationship with American Express and reaffirm our position as its exclusive Canadian co-brand airline partner," said Calin Rovinescu, President and CEO, Air Canada. "Amex is a global leader in premium payments, and this agreement will support the creation of new, world-class products for Air Canada's industry-leading loyalty program launching in 2020."

The two companies will work more closely in strategic areas such as premium customer experience, digital integration, member analytics, and incremental partnership opportunities. The terms of the deal provide Air Canada with significant revenue benefits and cost improvements, including a one-time payment upon signing, and the partnership will allow American Express to continue to expand its leadership in the premium card landscape.

"We are delighted to be expanding the nature of our partnership with Air Canada and look forward to issuing a suite of new consumer and business Cards in 2020 that harness the expertise of both our brands to deliver uncompromised value," said Rob McClean, President & CEO of Amex Bank of Canada, and President and General Manager, Amex Canada Inc.

Membership Rewards customers in Canada and the US will be able to transfer their points into Air Canada's new loyalty program once it has rolled out. American Express Aeroplan cardmembers will become members of Air Canada's new loyalty program in 2020, and all their miles will be transitioned at a 1:1 rate. In the interim, members may continue to earn and redeem Aeroplan Miles, and enjoy cardmember benefits as usual.