Air Canada Completes CA$800 Million Substantial Issuer Bid

08:15 AM EDT, 09/28/2026 (MT Newswires) -- Air Canada (AC.TO) took up and paid for 27.6-million of its Class A variable voting shares and Class B voting shares at CA$29.00 apiece under its CA$800 million substantial issuer bid, it said in a statement on Monday. These shares represent about 9.8% of the total number of Air Canada's outstanding shares as of Sept. 24, before giving effect to the offer, it said. About 252.7 million shares will remain outstanding after the offer, it added. The company's share buyback was funded with part of the proceeds from the minority equity investment in Aeroplan by funds managed by Blackstone and La Caisse, with other leading Canadian institutions. Shares of the company closed down 5.6% to CA$27.34 on Friday on the Toronto Stock Exchange.