Blackstone Inc. is reportedly close to a deal to buy a minority stake in Aeroplan, Air Canada’s travel loyalty program, for about $2 billion, according to people familiar with the matter.
Both outlets describe the transaction as a move to monetize part of Aeroplan as the program evolves. Financial Post focuses on the reported size of Blackstone’s stake and the estimated price. View From The Wing adds background on Aeroplan’s corporate history, saying Air Canada spun the program off in 2005, later bought it back for less after choosing not to renew an exclusive relationship with Aimia, and is now positioned to sell a portion of the rebuilt program. The outlets do not provide further details on deal structure, timing, regulatory review, or whether Air Canada retains control of Aeroplan after the sale.
