Blackstone Nears Deal For $2 Billion Aeroplan Stake After Air Canada Bought It Back For A Song

August 10, 2026

Blackstone is reportedly nearing a deal to buy a $2 billion stake in Air Canada’s Aeroplan program. Air Canada previously spun Aeroplan off in 2005, bought it back cheaply after deciding not to renew its exclusive relationship with Aimia, and now appears ready to monetize part of a larger, rebuilt program.

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