Air Canada Completes Share Buyback Bid for Approximately 530 Million Euros

Air Canada has completed its share buyback bid for approximately 530 million euros. The airline successfully repurchased 27.58 million shares at a fixed price of 18 euros per share through a public offer. This operation represents about 9.8% of Air Canada's outstanding share capital as of September 24.

The total amount of the buyback is 800 million Canadian dollars, which is roughly equivalent to 496 million euros. The number of shares outstanding will decrease to 252.7 million after this transaction, allowing the airline to reduce its floating capital.

Air Canada has partially funded the buyback with resources obtained from the entry into the capital of Aeroplan by investment firms managed by Blackstone and La Caisse, along with other Canadian financial institutions.