Air Canada has sold a 25% stake in Aeroplan to an investor group led by Blackstone and the Caisse de dépôt et placement du Québec (CDPQ).
The sale was valued at CAD 2.5 billion, valuing the company at CAD 10 billion. The investor group also includes the Public Sector Pension Investment Board and British Columbia Investment Management Corporation.
The transaction is intended to support Air Canada’s strategic plan and investment in long-term growth. Air Canada will continue to be responsible for Aeroplan’s strategy and operations. Members, business partners, and employees will not be affected by the transaction. The proceeds will be used to repay debt and repurchase shares.
