Northwire Canada EditionWednesday, July 22, 2026
Northwire
OLA 13.12 +2.7% EQX 13.15 +2.7% SRA 0.780 +0.0% UTWO 0.390 −13.3% IVN 10.61 −1.5% MUX 25.22 +0.9% LOD 0.290 −1.7% CLZ 0.045 +12.5% CNL 18.61 +2.0% LAM 0.510 +2.0% STS 0.165 +10.0% GR 0.070 +7.7% RARE 9.31 +4.6% PWM 0.650 +0.0% KNG 1.11 +8.8% TMET 0.105 +5.0% OLA 13.12 +2.7% EQX 13.15 +2.7% SRA 0.780 +0.0% UTWO 0.390 −13.3% IVN 10.61 −1.5% MUX 25.22 +0.9% LOD 0.290 −1.7% CLZ 0.045 +12.5% CNL 18.61 +2.0% LAM 0.510 +2.0% STS 0.165 +10.0% GR 0.070 +7.7% RARE 9.31 +4.6% PWM 0.650 +0.0% KNG 1.11 +8.8% TMET 0.105 +5.0%
M&A / Property

Air Canada and Emirates to Extend Strategic Partnership with Major, Multi-Year Expansion Agreement

AC · Price

Executive Summary

  • Air Canada and Emirates have signed a memorandum of understanding to extend their reciprocal codeshare and loyalty partnership through December 31, 2032.
  • The renewed agreement expands the existing network to 56 routes, adds new passenger benefits, and deepens cargo cooperation with plans for a potential joint venture.
  • Both carriers highlight expected growth in trade and tourism between Canada and the Middle East/Indian subcontinent, citing a 14% increase in bilateral trade (2022‑2023) and a CAD $3.3 billion export figure for 2024.

Key Details

  • Extension Period: Partnership now runs until 31 Dec 2032 (originally launched Nov 2022).
  • Network Scope: 56 codeshare routes linking Canada, the U.S., Dubai and 37 destinations; new summer additions include Toronto‑Minneapolis, Montréal‑Calgary, Vancouver‑Los Angeles.
  • Passenger Benefits: Enhanced priority benefits for eligible passengers, reciprocal lounge access, expanded Aeroplan/Skywards earning & redemption across all cabins, upcoming Premium Economy redemptions.
  • Cargo Cooperation: Strengthened two‑way cargo flow between the Americas and Middle East/Indian subcontinent; exploration of a joint venture focused on cargo operations.
  • Operational Coordination: Planned move of Air Canada’s Dubai operations to Dubai World Central (Al Maktoum International Airport) after 2032.
  • Trade Impact: Bilateral trade grew 14% (2022‑2023); Canadian exports reached CAD $3.3 billion in 2024, a 17% increase over 2023.
  • Quotes:
  • Mark Galardo (Air Canada) – emphasized the partnership’s role in supporting daily Toronto‑Dubai service and broader trade links.
  • Adnan Kazim (Emirates) – highlighted enhanced passenger & cargo capabilities and network connectivity.
  • Mary‑Jane Lorette (Air Canada) – noted over half‑million customers served since 2022 and the expansion of loyalty benefits.

Notable Quotes

  • “Beyond passenger services, we recognise the vital role air connectivity plays in fostering economic growth… This partnership will serve as a catalyst for strengthening our footprint in Canada and unlocking new opportunities for growth.” – Adnan Kazim, Deputy President & Chief Commercial Officer, Emirates.
Read the original news release →

More from AIR CANADA VOTING AND VARIABLE VOTING