Canada Evening Wrap: Air Canada's $2.5B Aeroplan Sale, Ottawa's Climate and Cannabis Investments, and a Backlash Against Extremism

Air Canada shares soared 12% to $30.61 after the airline announced a deal to sell a quarter of its Aeroplan loyalty program to Blackstone and Canadian pension funds. The $2.5 billion cash infusion will be used to repay $1.7 billion in bonds and buy back up to $800 million in shares, providing a lifeline as high jet fuel prices from the Middle East conflict deliver a half-billion-dollar earnings hit this year. The sale...