Air Transport World

Air Canada: aircanada.com.(North America)

The largest unit of ACE Aviation Holdings continues to be an innovator in marketing, sales and product development even as its parent continues to unlock the asset value in the Air Canada franchise. In June 2005, ACE carried out the world's first monetization of a frequent-flier loyalty program, selling 15% of Aeroplan LP and raising almost C$300 million (ATW, 4/06, p. 24). In January it sold 19% of Jazz, its Regional subsidiary, raising gross proceeds of C$235 million. Next on the list is Air Canada Technical Services, the airline's respected MRO organization, with a partial spinoff expected within the next 12 months.

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In 2005, its first full calendar year since completing its financial restructuring, ACE reported net income of C$258 million ($232 million). …

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