Investor Presentaiton
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Auditors' Fees
PricewaterhouseCoopers LLP has served as the Corporation's auditing firm since April 26, 1990. Fees payable
for the years ended December 31, 2006 and December 31, 2005 to PricewaterhouseCoopers LLP and its affiliates
are $2,215,397 and $1,705,088, respectively. Fees payable to PricewaterhouseCoopers LLP and its affiliates in 2006
and 2005 are detailed below.
Audit fees
Audit-related fees
Tax fees
All other fees
Year ended December 31,
Year ended December 31,
2006
2005
$1,794,807
$1,443,593
$390,590
$239,745
$30,000
$21,750
Nil
Nil
$2,215,397
$1,705,088
The nature of each category of fees is described below.
Audit fees
Audit fees were paid for professional services rendered for the audit of the Corporation's annual financial
statements and for services that are normally provided in connection with statutory and regulatory filings or
engagements, including with respect to the Initial Public Offering and the prospectuses filed in connection with such
offering.
Audit-related fees
Audit-related fees were paid for professional services related to pension plan audits, specified procedures reports
and other items related to the audit.
Tax fees
Tax fees were paid for professional services rendered with respect to commodity and income taxes.
Internal Control and Procedures over Financial Reporting Requirements
For the year ended December 31, 2006, PricewaterhouseCoopers LLP provided services to ACE in connection
with ACE's compliance with the internal control and procedures over financial reporting requirements under section
404 of the Sarbanes-Oxley Act of 2002 (United States). Section 404 requires a company's auditor to attest to, and
report on management's assessment of the effectiveness of a company's internal controls and procedures for
financial reporting in accordance with standards established by the Public Company Accounting Oversight Board.
As part of such services, PricewaterhouseCoopers LLP reviewed the internal controls of ACE and its material
subsidiaries, including Air Canada. In consideration for the benefits derived from such review, Air Canada has
reimbursed ACE an amount of $1,061,000 in respect of the total fees of $2,250,000 billed by
PricewaterhouseCoopers LLP to ACE for such services.
INTEREST OF MANAGEMENT AND OTHERS
IN MATERIAL TRANSACTIONS
Other than as set out below or described elsewhere in this Initial Annual Information Form, none of the directors
or senior officers, as applicable, of (i) Air Canada, (ii) ACE, or (iii) any associate or affiliate of the persons referred
to in (i) and (ii), has or has had any material interest, direct or indirect, in any transaction within the past three years
or in any proposed transaction that has materially affected or will materially affect Air Canada, ACE or any of their
subsidiaries.
Air Canada is a party to the following material agreements with ACE or other affiliates of ACE:View entire presentation