Aeroplan stake sale hands Air Canada a $10 billion valuation nobody saw coming
Outgoing chief executive Michael Rousseau said the deal would strengthen the balance sheet and support a push toward an investment grade credit rating, Reuters reported.
Fitch Ratings revised its outlook on the carrier to positive from stable on Tuesday, citing the Aeroplan transaction, and affirmed its BB issuer default rating.
Air Canada posted a net loss of $178m for the quarter ended June 30, reversing a $186m profit a year earlier, The Canadian Press reported, though adjusted diluted earnings of 40 cents per share beat the 13 cents analysts had expected, according to LSEG Data & Analytics.
Revenue rose 11 percent to $6.27bn.
The company reinstated full-year 2026 adjusted EBITDA guidance it had suspended on April 30, but cut the range to $2.9bn to $3.2bn from an earlier $3.35bn to $3.75bn, below the $3.23bn analysts had projected, per Reuters.
