http://www.thestar.com/business/art...k-up-to-10-per-cent-of-its-outstanding-shares MONTREAL—Air Canada announced plans Wednesday to buy back up to 10 per cent or 24.7 million of its outstanding shares over the coming year. The airline said the repurchase program for both its class A and B shares will start on Dec. 12 and end no later than Dec. 11, 2012. “The board of directors of Air Canada believes that the purchase by Air Canada of its shares represents an appropriate use of funds to increase shareholder value,” the company said in a statement. By buying back its shares, a company reduces its equity base, spreading profits over fewer shares. That increases its return on equity and earnings per share, two key ratios used to determine a company’s financial health and investment rating. Air Canada has not purchased any of its shares within the last 12 months.