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.
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Jun 26, 2026 · 09:00