Air Canada sells 25% stake in its loyalty program Aeroplan for $1.7 billion

Air Canada announced the sale of a 25% ownership interest in its Aeroplan loyalty program to a consortium led by BlackRock, Inc. The transaction is valued at approximately C$2.5 billion ($1.7 billion). This divestment represents Air Canada’s strategic decision to focus on core operations and enhance profitability. Proceeds from the deal will be utilized to bolster investments within the airline's network and support future growth initiatives. The sale concludes after an extensive process involving multiple bidders interested in acquiring a portion of the highly successful Aeroplan program.