🟢 Air Canada is trading 6.5% up today after a C$2.5 billion Aeroplan stake sale

Air Canada is trading 6.49% up now at $29.04 after announcing a C$2.5 billion sale of a 25% Aeroplan stake to Blackstone, La Caisse and other institutions.

• Proceeds will repay US$1.2 billion of near-term debt and fund up to C$800 million in share buybacks, supporting investment-grade ambitions.
• Second-quarter adjusted EPS was C$0.40 versus a C$0.13 estimate.
• Adjusted EBITDA reached C$719 million.