The work will be done in Trois-Rivieres, Que., where Premier has its headquarters as well as heavy maintenance and paint facilities. The company also has other operations in Windsor, Ont., and Rome, N.Y.
The five-year contract follows on a 2012 letter of intent signed by the companies.
Financial terms weren't announced.
It also provides for Premier to do more extensive overhauls than it has been doing since May 2013.
Dave Diggle, Premier's vice-president for marketing, sales and service, said that the prior to Monday's announcement, Air Canada had no obligation to Premier with respect to volumes of work.
"As Air Canada`s exclusive provider of these services, Premier (now) has the security of knowing all Air Canada work on their E-190 fleet, will be at Premier," Diggle said in an email response to a query.
"Air Canada, in turn, has the security of a long-term home for their E-190 Fleet. This is truly one of those win-win situations."