Correction: Air Canada Provides Preliminary Results of CA$800 Million Substantial Issuer Bid

08:57 AM EDT, 09/25/2026 (MT Newswires) -- (Corrects miswordings in paragraphs two and four.) Air Canada (AC.TO) provided the preliminary results of its now-expired substantial issuer bid to purchase for cancellation up to CA$800 million of its class A variable voting shares and class B voting shares. Air Canada expects to buy back about 27.6 million shares priced at CA$29.00 each under the offer, representing a total purchase price of about CA$800 million for about 9.8% of its issued and outstanding shares, the airline company said Friday. Air Canada said the offer allows the company to return its share count to pre-pandemic levels. The company will fund the share repurchase with part of the proceeds from the sale of a minority equity stake in Aeroplan to funds managed by Blackstone and La Caisse, together with other Canadian institutions. Air Canada said the offer enables the company to return value to shareholders, invest in its New Frontiers strategy, and support a strong balance sheet.