Air Canada responds to Aveos closing

Air Canada has provided the following comments concerning Aveos Fleet Performance Inc. (Aveos), a separate and independently owned and managed supplier to Air Canada that provides maintenance, repair and overhaul (MRO) services to airlines, including Air Canada. Air Canada has been advised that Aveos has filed for insolvency protection under the Companies’ Creditors Arrangement Act (CCAA). According to officials, these events at Aveos, while disappointing, have no impact on Air Canada’s day-to-day aircraft maintenance and repair activities, referred to as “line maintenance.”The airline’s line maintenance has always been performed directly by Air Canada at the airline’s own facilities by Air Canada’s 2,300 maintenance employees. The airline typically performs its line maintenance activities overnight or between flights, as necessary. Aveos has been providing Air Canada with airframe, engine and component work which, in the case of scheduled maintenance checks, is pre-planned. The airline is prepared with a contingency plan to ensure continuity of this work and that it will continue to be performed in compliance with all regulatory and legal requirements. Should Aveos not be in a position to perform work, the airline is prepared to make arrangements with a number of other service providers, located primarily in the US and Canada, with whom Air Canada has longstanding relationships. Air Canada has been supportive of Aveos through various means and has been meeting all of its financial and legal obligations of its contractual arrangements with Aveos according to the terms of its commercial agreements.