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Jazz and Air Canada successfully conclude negotiations

Feb. 2, 2009 Halifax - Jazz Air LP ("Jazz") today announced that an agreement has been successfully reached with Air Canada regarding the establishment of new rates for controllable costs.


February 2, 2009
By Carey Fredericks

Feb. 2, 2009 Halifax – Jazz Air LP ("Jazz") today announced that an agreement has been successfully reached with Air Canada regarding the establishment of new rates for controllable costs that will become payable by Air Canada under the Capacity Purchase Agreement (CPA) in respect of the years 2009 to 2011 (inclusive). This rate review and adjustment was required under the terms of the CPA.
    
The new rates are retroactive to January 1, 2009, and the parties will reconcile the amounts previously paid to the amounts owing under the new rates such that the parties will be in the same position they would have been in had the new rates been in effect as of January 1, 2009.