Skip to main content

The Globe and Mail

ACE Aviation sells remaining interest in Air Canada

Air Canada planes sit on the tarmac at Pearson International Airport in Toronto in this file photo.


ACE Aviation Holdings Inc. is continuing with its plans to wind down by selling its remaining shares and warrants in Air Canada to Cormark Securities for net proceeds of $58-million.

The airline holding company said Wednesday it sold 31 million Air Canada shares, 1.25 million warrants to purchase Air Canada shares at an exercise price of $1.51 and 1.25 million warrants with an exercise price of $1.44.

ACE was created in 2003 as part of the court-supervised restructuring of Air Canada.

Story continues below advertisement

The company is being dissolved now that its subsidiaries, including the airline, have been spun off or sold.

ACE moved from the Toronto Stock Exchange to the NEX board of the TSX Venture Exchange earlier this year.

Report an error

The Globe invites you to share your views. Please stay on topic and be respectful to everyone. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

We’ve made some technical updates to our commenting software. If you are experiencing any issues posting comments, simply log out and log back in.

Discussion loading… ✨

Combined Shape Created with Sketch.

Combined Shape Created with Sketch.

Thank you!

You are now subscribed to the newsletter at

You can unsubscribe from this newsletter or Globe promotions at any time by clicking the link at the bottom of the newsletter, or by emailing us at