Blackstone and a group of Canadian pension funds are buying a 25% stake in Air Canada’s Aeroplan loyalty program in a deal valued at C$2.5 billion (about $1.8 billion), according to reports.
The transaction involves a partial sale rather than a full takeover of the loyalty business. Both outlets describe the same core terms: the ownership percentage being acquired, the combined investor group, and the total purchase price in Canadian dollars and U.S. dollar equivalents.
Neither source provides additional details on the structure of the transaction beyond the stake and valuation, nor do they specify timing, regulatory steps, or how the partnership will affect Aeroplan’s operations. As a result, the coverage focuses primarily on the size of the investment and the share being purchased.
