Air Canada Sells Aeroplan Stake for $2.5B

Air Canada shares surged after the airline announced the sale of a 25% stake in its Aeroplan loyalty program to Blackstone and Canadian pension funds, strengthening its balance sheet with a $2.5 billion cash injection. Air Canada Shares Rise After Aeroplan Deal Shares of Air Canada climbed 12% on Wednesday to close at $30.61 on the Toronto Stock Exchange, reaching their highest level since early…