What Happened
Airline Secures Investment to Strengthen Balance Sheet
Air Canada has announced the sale of a 25% stake in its loyalty program Aeroplan to an investor group led by Blackstone and La Caisse for $1.7 billion. The sale values Aeroplan at $7.17 billion and will be used to repay $1.2 billion of Air Canada bonds, thereby strengthening the airline’s balance sheet. Air Canada retains 75% of Aeroplan and full control of operations, with the transaction expected to have no impact on the experience of members, partners, and employees. The deal was reported by AeroTime.