Frequent-flyer programs Mergers and Acquisitions Airline Industry & Market Trends Air Canada Airlines

Blackstone and Canadian Pension Funds Buy 25% of Air Canada’s Aeroplan for C$2.5 Billion

Blackstone and a group of Canadian pension funds acquired a quarter of Air Canada’s Aeroplan loyalty program for C$2.5 billion ($1.8 billion). The transaction underscores the growing financial value of airline loyalty businesses as carriers seek capital beyond ticket sales and expand their programs’ commercial reach.

Discovered 2026-08-11T03:50:18.369798-07:00 | 2026-08-11T03:50:18.369798-07:00

Briefing

What Hype is tracking

The C$2.5 billion valuation for a 25% Aeroplan stake highlights the scale and monetization potential of airline loyalty assets.
Air Canada gains a significant source of capital while retaining exposure to Aeroplan’s loyalty-business growth, reinforcing the strategic importance of non-ticket revenue.

Reported By

loyaltylobby.com Bloomberg Airline Economics One Mile at a Time