Blackstone-Led Investor Group Makes Minority Investment in Aeroplan
August 11, 2026
An investor group led by Blackstone and La Caisse, with PSP Investments and British Columbia Investment Management Corporation, invested C$2.5 billion for a 25% non-controlling interest in Aeroplan, valuing the loyalty program at C$10 billion. Air Canada retained 75% ownership and operational control; the investment closed on August 17, 2026, with proceeds intended primarily to repay debt and support Air Canada's capital-management plans.
- Buyers
- Blackstone, La Caisse (Caisse de dépôt et placement du Québec), PSP Investments, British Columbia Investment Management Corporation (BCI)
- Targets
- Aeroplan Inc.
- Sellers
- Air Canada
- Industry
- Financial Services
- Location
- Quebec, Canada
- Transaction Type
- Growth capital
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