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Air Canada CEO Sells Block of Shares for Investment Diversification, Estate Planning and Charitable Giving

 

MONTREALAug. 4, 2017 /CNW Telbec/ – Air Canada announced today that Calin Rovinescu, its President and Chief Executive Officer, has sold 1,645,181 Class B Voting Shares in a block trade to a financial institution, as reported in applicable securities filings.   Mr. Rovinescu plans to use proceeds from the sale of shares for investment diversification, estate planning and to fund his Family Foundation for charitable giving.
Mr. Rovinescu continues to own a substantial equity interest in Air Canada through his remaining holdings of Class B voting shares and other equity securities.
Air Canada is Canada’s largest domestic and international airline serving more than 200 airports on six continents.    Canada’s flag carrier is among the 20 largest airlines in the world and in 2016 served close to 45 million customers.  Air Canada provides scheduled passenger service directly to 64 airports in Canada, 57 in the United States and 95 in Europe, the Middle EastAfricaAsiaAustralia, the CaribbeanMexicoCentral America and South America. Air Canada is a founding member of Star Alliance, the world’s most comprehensive air transportation network serving 1,300 airports in 191 countries.    Air Canada is the only international network carrier in North America to receive a Four-Star ranking according to independent U.K. research firm Skytrax, which also named Air Canada the 2017 Best Airline in North America