Blackstone Nears US$2 Billion Minority Stake in Air Canada's Aeroplan

Blackstone Inc. is nearing a deal to acquire a minority stake in Air Canada's Aeroplan loyalty program for approximately US$2 billion, Bloomberg reported August 10. Air Canada would retain control while Blackstone takes an economic interest in the points platform. The deal has not closed; terms could shift. Aeroplan is Air Canada's travel loyalty program.