Air Canada Reports $178M Second-Quarter Loss, Down From $186M Profit Last Year
Air Canada said the sale will help repay bonds and fund share buybacks as fuel costs cut quarterly profit and lifted second-quarter losses to $178 million.
- On Tuesday, August 11, 2026, Air Canada announced the sale of a 25% non-controlling stake in Aeroplan to a Blackstone Inc.-led investor group for $2.5 billion.
- Proceeds from the deal will allow Air Canada to repay $1.7 billion in bonds and buy back up to $800 million in shares, strengthening its balance sheet.
- Under the agreement, Air Canada retains 75% of Aeroplan and maintains full operational control of the loyalty program's day-to-day operations.
- The Blackstone-led group includes Caisse, PSP Investments, and the British Columbia Investment Management Corporation, with settlement scheduled for August 17, 2026.
- Shares jumped 15% before settling to a roughly 10% increase, even as Air Canada reported a $178 million quarterly loss driven by high fuel prices.
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Air Canada's action took off after the country's largest airline announced that it would divest a quarter of its Aeroplan loyalty program to Blackstone and La Caisse for $2.5 billion.
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Air Canada shares jump after it sells 25% stake in Aeroplan for $2.5 billion
MONTREAL — Air Canada shares took flight Wednesday after the country's largest airline announced it would sell a quarter of its Aeroplan loyalty program to Blackstone and a trio of Canadian pension funds for $2.5 billion in a bid to bolster its balance sheet.
Air Canada cuts service on Eight U.S. Routes as cross-border demand softens
Abi Sarabia M., Philippine Canadian Inquirer August 12, 2026 Air Canada is scaling back its U.S. network once again, cancelling, delaying, or removing eight transborder routes as high jet fuel […] The post Air Canada cuts service on Eight U.S. Routes as cross-border demand softens appeared first on Philippine Canadian Inquirer.
Air Canada sells 25% stake in its loyalty program for $1.7B
Air Canada is selling a 25% stake in its loyalty program Aeroplan for $1.7 billion (C$2.5 billion) to an investor group led by Blackstone and La Caisse. On August 11, 2026, Air Canada said that the group will acquire a 25% non-controlling interest in Aeroplan, valuing the program at $7.17 billion (C$10 billion). Proceeds from the sale will be used to repay $1.2 billion of Air Canada bonds maturing soon. Air Canada said that this will strengthen …
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