Blackstone, La Caisse to Acquire Stake in Air Canada's Aeroplan Program
The investment, valued at nearly $2 billion, aims to bolster Air Canada's financial standing.
Business & Markets • 2 months ago
Asset manager Blackstone and Quebec's La Caisse pension fund have agreed to purchase a 25% stake in Air Canada's loyalty program, Aeroplan. The deal is valued at nearly US$2 billion.
Air Canada stated that this investment will aid the company in its efforts to achieve an investment-grade rating. The airline has been working to improve its financial profile following a period of significant disruption across the travel industry.
Aeroplan is a significant asset for Air Canada, serving as its primary customer loyalty program. The partnership with Blackstone and La Caisse is expected to provide capital that can be strategically deployed to enhance the program and support the airline's broader financial objectives.