Aeroplan (Aimia Inc.)
2019
$450M
Air Canada
Airlines & Aviation ServicesFounded 1937- HQ today: Montreal, Quebec, Canada
Reviewed by Swet Parvadiya
Company data updated: November 2026
Acquisitions
Air Canada Acquisitions
2
Major Deals Covered
$3.9B
Disclosed Deal Value
What are Air Canada's biggest acquisitions?
Air Canada's largest disclosed acquisition here is Aeroplan (Aimia Inc.) for $450 in 2019. This page covers 2 major deals from 2001 to 2019, each with its price where disclosed and the reason behind it.
- Major deals covered
- 2
- Largest deal
- Aeroplan (Aimia Inc.) ($450)
- First deal
- 2001
- Most recent
- 2019
| Company | Year | Price | Purpose |
|---|---|---|---|
| 2001 | Undisclosed | Historic merger uniting Canada's two premier airlines to create undisputed national carrier. | |
| 2019 | Undisclosed | Re-acquired proprietary loyalty program, securing lucrative credit card points sales and customer data. |
- What companies has Air Canada bought?
- Major acquisitions by Air Canada documented here include Aeroplan (Aimia Inc.) (2019) and Canadian Airlines International (2001).
- What is Air Canada's most recent acquisition?
- The most recent Air Canada acquisition documented here is Aeroplan (Aimia Inc.), in 2019, for $450.
Canadian Airlines International
2001
$3.4B
Air Canada's Growth & Acquisition Strategy
Under CEO Michael Rousseau, Air Canada is executing four key strategic growth drivers: (1) Sixth Freedom International Sixth-Freedom Transit Expansion: Marketing Canadian gateway hubs (Toronto, Montreal, Vancouver) to capture high-yielding transatlantic and transpacific passengers traveling between the US and international destinations; (2) Fleet Modernization and Range Expansion: Taking delivery of 30 extra-long-range Airbus A321XLR aircraft and next-generation Boeing 787-10 Dreamliners to open secondary European routes from Montreal and Ottawa; (3) Scaling Aeroplan Financial Partnerships: Expanding credit card co-brand issuance with TD, CIBC, and Chase (US), driving high-margin points sales and retail partnership redemptions; and (4) Growing Dedicated Air Canada Cargo Operations: Expanding Boeing 767 freighter flights across Latin America, Europe, and the Caribbean to capture specialized temperature-controlled pharmaceutical and cold-chain cargo.
How Air Canada Makes Money
Air Canada operates an integrated international network airline business model built on passenger transportation, cargo logistics, and high-margin loyalty financial services: (1) Passenger Travel (~89% of revenue / ~CAD $19.4B), monetizing tickets across Signature Class (lie-flat business suites), Premium Economy, and Economy across domestic Canadian, US transborder, transatlantic, and Asian routes; (2) Air Canada Cargo (~5% of revenue / ~CAD $1.1B), operating a dedicated fleet of Boeing 767-300ER freighters alongside belly cargo capacity on passenger widebody jets, transporting pharmaceuticals, mail, e-commerce, and high-value industrial freight globally; (3) Aeroplan Loyalty Program (~4% of revenue / ~CAD $0.9B), selling Aeroplan points to major Canadian financial institutions (TD Bank, CIBC, American Express credit cards) and retail partners, generating non-volatile, high-margin cash flows; and (4) Air Canada Vacations (~2% of revenue / ~CAD $0.4B), selling bundled holiday packages, Caribbean resort accommodations, and cruise connections. Air Canada generates annual operating income exceeding CAD $2.28 billion.
Air Canada Acquisitions FAQ
What is Air Canada's general approach to M&A and acquisitions?
Air Canada pursues a disciplined, strategic M&A approach focused on acquiring proprietary technologies, expanding customer distribution reach, and unlocking operational cost synergies rather than pursuing unselective scale.
What were some of the most transformative acquisitions completed by Air Canada?
Transformative transactions in Air Canada's history include pivotal mergers and acquisitions that secured key regional footprints, consolidated core market share, and brought proprietary software intellectual property in-house.
How does Air Canada successfully integrate acquired companies?
Air Canada deploys dedicated integration teams to harmonize core software stacks, align regulatory compliance systems, and unite company cultures while preserving entrepreneurial agility.
Does Air Canada divest non-core corporate assets?
Yes, Air Canada periodically evaluates its corporate portfolio, strategically divesting non-core or non-strategic assets to redeploy capital into high-margin core operational divisions.
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