Air Canada sells 25% Aeroplan stake for CA$2.5bn

Air Canada finalized a significant transaction, selling a 25% minority equity stake in its loyalty program, Aeroplan, for CA$2.5 billion. This investment was secured by funds managed by Blackstone and La Caisse, alongside other Canadian institutional investors. The deal values the entire Aeroplan loyalty programme at approximately CA$10 billion. Air Canada will maintain control over the program’s operations while relinquishing a quarter of ownership. This strategic move allows Air Canada to bolster its balance sheet amidst ongoing economic challenges within the aviation industry.