Air Canada is trading 14% up now at $31.09 after second-quarter adjusted earnings per share reached $0.40, beating expectations.
- Investors responded to a $2.5 billion minority investment in Aeroplan led by Blackstone and La Caisse, valuing Aeroplan at $10 billion.
- Proceeds are earmarked partly for debt reduction and an $800 million share buyback.
- Reuters cited strong expected fall travel demand despite cost pressures. The gain follows a 5.90% advance to $27.27 on August 11.