Air Canada Sells Aeroplan Stake for $2.5 Billion Amid Quarterly Loss

Air Canada has announced a significant financial transaction, selling a 25 percent non-controlling equity interest in its Aeroplan loyalty program to funds managed by Blackstone, La Caisse, and other investors for $2.5 billion. The airline will retain full operational control and a majority ownership of Aeroplan.

This deal was announced alongside Air Canada's second-quarter financial results, which showed a net loss of $178 million. This contrasts with a net income of $186 million during the same period in the previous year. The diluted loss per share for the quarter was 63 cents, compared to earnings per share of 51 cents a year ago.

Despite the net loss, Air Canada's revenue for the quarter grew to $6.3 billion, an increase from $5.6 billion in the prior year.

Key Facts

• Air Canada reported a net loss of $178 million in the second quarter of 2026.
• In the same quarter of the previous year, Air Canada had a net income of $186 million.
• Diluted loss per share for the recent quarter was 63 cents, against diluted earnings per share of 51 cents a year prior.
• Air Canada's revenue for the second quarter reached $6.3 billion, up from $5.6 billion.
• An investor group including funds managed by Blackstone and La Caisse acquired a 25 percent non-controlling equity interest in Aeroplan Inc.
• This stake in Aeroplan was sold for $2.5 billion.
• Air Canada will maintain full operational control and a controlling ownership interest in Aeroplan.
• The transaction was announced on August 11, 2026.