Air Canada

Air Canada announced the sale of a 25% minority stake in its loyalty program Aeroplan to a consortium led by Blackstone and La Caisse for US$2.5 billion, valuing Aeroplan at C$10 billion. Proceeds are intended to repay a US$1.2 billion maturing bond and to enable share buybacks of up to C$800 million. In Q2 the airline reported adjusted EPS of C$0.40, roughly 272% above estimates, on record operating revenues of C$6.3 billion; the full‑year adjusted EBITDA forecast was restored to C$2.9–3.2 billion, with higher jet fuel prices cited as a risk. Analyst upgrades and the capital measures drove the share price to a new 52‑week high of $31.45; the close was about $29.95. » Plus sur de.investing.com

Air Canada anticipates one of the strongest fall travel seasons, supported by business travelers, but continues to face elevated costs. The airline restored its full-year guidance for core profit, though it remains below earlier levels and below analysts' expectations. For the second half of 2026, unit costs are expected to rise 4–5%, but a cost improvement is forecast for H2; delivery dates for A321XLR and A220 aircraft are delayed by about three months. » Plus sur de.investing.com

A consortium led by Blackstone and La Caisse buys 25% of Aeroplan for $2.5 billion, valuing the program at $10 billion. Air Canada retains 75% and full operational control; PSP Investments and BC Investment Management are also involved. Proceeds will repay a $1.2 billion maturing bond and accelerate a share buyback program of up to $800 million. Air Canada holds a call option to repurchase the minority stake with a repurchase price that guarantees investors an IRR of 6.5% after distributions. » Plus sur de.investing.com