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City Montreal / Toronto / / Company AC Cargo Limited Partnership / Air Canada Services / Airbus / Aeroplan Limited Partnership / Air Canada / ACE Aviation Holdings Inc. / the Star / ACGHS Limited Partnership / Air Canada Vacations / Jazz Air Income Fund / Air Canada Cargo / Jazz Air LP / Touram Limited Partnership / / Continent North America / Europe / / Country United States / Canada / / Currency cent / USD / / Event IPO / M&A / Security Buyback / Reorganization / / Facility USB port / Building Loyalty / / IndustryTerm public communications / scheduled passenger services / gate management / air cargo services / long-term stable / cargo transportation services / energy prices / aircraft ramp services / profitable airline / passenger handling services / tour operator services / subscription products / airline / ground handling services / leisure travel market / cargo services / vacation travel packages / travel experience / transborder air cargo carrier / ancillary services / search engine / air travel rewards / / MusicAlbum South America / / Organization refine Air Canada’s Mission / The Star Alliance / Star Alliance / Air Canada’s Mission / / Person Robert Milton / / Position President and CEO / Montie Brewer President / Executive / Jazz CPA / / Product Airbus A340-300 / 777-300 / MD-11 / / Region Caribbean / / Technology search engine / / URL www.sedar.com / aircanadavacations.com / www.aircanada.com / / SocialTag 
ANNUAL REPORT 2007 TABLE OF CONTENTS Message from Robert Milton .................................................................................................................................... 3 Message from the Pr