Bloomberg
• Stephanie Hughes, Thomas Seal
Air Canada is selling a 25% minority stake in its Aeroplan loyalty program to funds managed by Blackstone, La Caisse and other Canadian institutions in a deal valuing the program at approximately C$10 billion. Air Canada will retain operational and strategic control, while using proceeds for debt repayment and share buybacks.
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Air Canada is selling a 25% minority stake in its Aeroplan loyalty program to funds managed by Blackstone, La Caisse and other Canadian institutions in a deal valuing the program at approximately C$10 billion. Air Canada will retain operational and strategic control, while using proceeds for debt repayment and share buybacks.
Air Canada shares climbed to their highest level since July 2021 as analysts assessed the potential sale of a stake in Aeroplan, the airline’s travel loyalty program. The discussion has focused on a possible transaction involving Blackstone, though no deal was confirmed in the report.
SpaceX’s reported move to acquire AI startup Cursor is central to Morgan Stanley’s bullish valuation case, which sees the company’s shares more than doubling. The thesis assigns considerable value to SpaceX’s expansion into artificial intelligence rather than relying primarily on its launch and space operations.
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Joby Aviation will acquire Ohio-based defense technology company Resonant Sciences for approximately $500 million, expanding beyond its commercial eVTOL program. Resonant’s radio-frequency, sensing, mission-system and stealth capabilities will form Joby’s dedicated defense business, which is expected to be established following the deal’s anticipated 2027 closing.
Lufthansa Group CEO Carsten Spohr says a potential minority investment in TAP Air Portugal could generate synergies with ITA Airways, strengthen the group’s position in southern Europe and improve its competitive standing in transatlantic and Latin American markets.
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Archer Aviation will acquire Boeing subsidiaries Wisk Aero, Insitu and SkyGrid, bringing the former eVTOL rivals together and expanding Archer beyond urban air mobility. Boeing will receive a nearly 20% stake in Archer while retaining access to Wisk’s core autonomy technology.
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Archer Aviation will acquire Boeing subsidiaries Wisk Aero, drone maker Insitu and air traffic-management firm SkyGrid in an all-stock transaction pending regulatory approval. The deal would give Boeing nearly 20% of Archer, make it the largest outside shareholder and add a board seat, with closing expected by year-end.
Rheinmetall will establish a systems-integration facility in Germany for Boeing’s MQ-28 Ghost Bat collaborative combat aircraft, adding national technology as the partners seek to position the platform for a Luftwaffe requirement targeted for 2029.
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