Air Canada sells $2.5 billion stake in loyalty programme to Blackstone, other investors

Air Canada has finalized the sale of a significant portion of its Aeroplan loyalty program to a consortium led by Blackstone and comprised of various Canadian funds. The transaction secures $2.5 billion for Air Canada’s ownership stake within the program. Investors will receive a 25% equity interest valued at an initial $10 billion assessment of the loyalty scheme. This investment represents one of the largest deals in the airline industry's history, reflecting the value of Aeroplan as a key customer engagement tool. The deal involves pensions alongside Blackstone, solidifying the importance of this program within Air Canada’s overall strategy.