Air Canada

Air Canada has taken up and paid for 27,586,206 of its Class A variable voting shares and Class B voting shares at a price of $29.00 per share under its $800 million substantial issuer bid. The shares bought represent about 9.8% of Air Canada's total outstanding shares as of September 24, 2026, before giving effect to the offer, leaving about 252.7 million shares outstanding and returning the carrier's share count to below pre-pandemic levels. About 66.8 million shares were validly deposited and not withdrawn, and because the offer was oversubscribed, roughly 41% of the successfully tendered shares were purchased, excluding odd lot tenders not subject to proration. Air Canada paid TSX Trust Company, the depositary, about $800 million for the purchased shares, with settlement to be made on or before October 2, 2026, funded with part of the proceeds from the minority equity investment in Aeroplan by funds managed by Blackstone and La Caisse. The airline estimates the paid-up capital per share at about $10.60, meaning selling shareholders will be deemed to have received a dividend of $18.40 per share, designated an eligible dividend for Canadian tax purposes.

Chase and Aeroplan announced refreshed benefits for the Chase Air Canada Aeroplan Card, effective today for both new and existing cardmembers. Primary cardmembers now receive automatic Aeroplan 25K Status with no spending requirement, earning Priority Check-In, Priority Boarding in Zone 2 and 5 eUpgrade Credits each year as a Core Benefit. The card offers up to 5X total Aeroplan points on Air Canada purchases, 3X points on travel and 2X points on dining, grocery stores and gas stations, plus new savings of 15% on eligible Air Canada flight redemptions booked with Aeroplan points and up to $100 USD in Air Canada statement credits annually, delivered as two $50 USD credits semi-annually. Starting January 2027, cardmembers get a 4th Day Free at more than 11,000 car rental locations worldwide when booking four days in one reservation with Aeroplan points. For a limited time, new cardmembers can earn up to 115,000 bonus Aeroplan points, and the card carries an annual fee of $195 USD.

Elon Musk has applauded Heart Aerospace's first flight of its X1 battery-electric demonstrator, which flew for 27 minutes on roughly $5 of electricity, and said an important next step is making it autonomous. The piloted X1 flew on August 12 from Plattsburgh International Airport in New York under an FAA Special Airworthiness Certificate, climbing to 1,100 feet and delivering more than one megawatt of electric propulsion power. Heart Aerospace calls the X1 the largest battery-electric aircraft ever flown, and founder and CEO Anders Forslund said the test demonstrated electric flight at the scale of a commercial airliner. The X1 supports development of the ES-30, a 30-seat hybrid-electric regional aircraft targeting 200 kilometers of all-electric range and up to 800 kilometers in hybrid operation, with type certification planned for 2031. Heart says the ES-30 could cut aircraft operating costs by more than 40 percent, and the company has attracted a $107 million investment from Breakthrough Energy Ventures, while Air Canada has ordered 30 ES-30 aircraft and invested $5 million in Heart Aerospace. Musk's call for autonomy goes beyond Heart's current roadmap, as the X1 flight was piloted and the ES-30 is presented as a crewed aircraft, and certification remains a hurdle, with the FAA describing a seven-phase process.

Airbus and Air Canada have created a C$13.7 million Sustainability Co-Investment Platform focused on sustainable aviation fuel production in Canada. The partners also entered a multi-year SAF purchase agreement and plan to increase engagement with Canadian policymakers on aviation decarbonization. By committing capital and a multi-year offtake arrangement, Airbus is moving beyond its traditional role as an aircraft supplier and engaging earlier in the aviation fuel chain, signaling to airlines, regulators, and competitors such as Boeing and Embraer that it is prepared to share early-stage risk in building a domestic SAF industry.

Air Canada announced the ratification of a new four-year collective agreement with the International Association of Machinists and Aerospace Workers, covering 11,000 employees in the airline's technical support, maintenance, and operational support unit. The agreement, effective April 1, 2026 through March 31, 2030, is one of six new collective agreements ratified at Air Canada this year, following earlier ratifications by finance and clerical employees also represented by IAM, as well as customer service and dispatch employees represented by Unifor. President and CEO Michael Rousseau stated that the deal recognizes the expertise and contributions of these employees and positions the company to advance its strategic plan. With this ratification, new collective agreements are now in force with all of Air Canada's major unions after the expiration of previous long-term agreements.

Air Canada's Aeroplan and World of Hyatt have announced a partnership allowing members to earn, convert, and redeem points across both programs when they link their accounts. Aeroplan members can now redeem points for free nights at eligible Hyatt hotels, starting at 25,000 Aeroplan points for Category 1–4 hotels, while World of Hyatt members can exchange points for a 30,000-point Aeroplan flight reward certificate. Aeroplan Elite status members and eligible premium credit cardholders gain access to a 90-day challenge to fast-track World of Hyatt status, with Globalist status achievable after 20 nights, and premium cardholders receive complimentary Discoverist status plus five annual elite night credits. Members can also convert points between programs, with World of Hyatt points converting to Aeroplan at a 2:1 ratio starting at 5,000 points, and Aeroplan Elite members able to convert Aeroplan points to World of Hyatt bonus points at a 2:1 ratio with a 500-point minimum. The collaboration spans a combined network of over 1,300 destinations and 1,500 hotels.

Air Canada has named Scandinavian Airlines CEO Anko van der Werff as its next chief executive. He is expected to take up the post by the end of January 2027, succeeding Michael Rousseau, who announced his departure in March. Rousseau had faced criticism for not delivering a tribute in French after an aircraft incident. Air Canada said the selection process considered multiple criteria, including French language proficiency, and van der Werff emphasized the importance of communication by using French in a video message to employees. He led a restructuring at SAS and has previously served as CEO of Avianca and held senior roles at Aeromexico and Qatar Airways.