The Canadian government sold its 6pc stake in Air Canada on December 11-12, following a previous indication that it did not plan to maintain a long-term investment in the airline.
Initially, in April 2021, the government invested CAD500 million in Air Canada as part of a COVID-19 support package, becoming the airline’s largest shareholder.
The government sold its shares at approximately CAD25 each, making a profit over the initial purchase price, while the airline did not officially communicate the transaction to the Toronto Stock Exchange.
Air Canada has since shown a robust financial performance, reporting CAD2.3 billion in net profit for Q3 2024, reflecting a strong recovery in the airline’s operations following the pandemic.
