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- Aeroplan
Aeroplan Revenue, Valuation, Funding & Investors
Aeroplan is valued at $7.1B as of August 2026, a 1.6x multiple on its last reported $4.5B revenue.
Last Aeroplan valuation
$7.1B
Secondary · Aug 2026
Aeroplan revenue
$4.5B
Secondary · Aug 2026
Key investors in Aeroplan
Blackstone
La Caisse
About Aeroplan
Aeroplan is a Canadian loyalty program that offers incentive schemes covering air travel and home improvement.
Founded
1984
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Services
Revenue
$4.5B (Aug 2026)
Valuation
$7.1B (Aug 2026)
Sectors
Aeroplan Valuation
Aeroplan is currently valued at $7.1B, based on its secondary sale in August 2026.
The $1.8B round was led by Blackstone and La Caisse.
Aeroplan valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Aug 2026 | Secondary | $7.1B | 1.6x |
Aeroplan Revenue
Aeroplan's latest recorded revenue is $4.5B, as of its secondary sale in August 2026. At a $7.1B valuation, that implies a 1.6x revenue multiple.
Aeroplan revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Aug 2026 | $4.5B | $7.1B | 1.6x | Secondary |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Aeroplan Funding History
Aeroplan has 1 recorded secondary share sale and no primary funding rounds.
Aeroplan funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2026 | Secondary | Blackstone (lead); La Caisse (lead) | $1.8B | $7.1B | Funds managed by Blackstone and La Caisse, together with other Canadian institutional investors, are acquiring a 25% non-controlling equity interest in Aeroplan for $2.5 billion, valuing the program at $10 billion. Air Canada will retain 75% ownership and continue to control Aeroplan’s operations, strategic direction, and day-to-day management. Air Canada stated that the proceeds will be used primarily to repay its upcoming US$1.2 billion bond maturity, with most of the remaining cash directed toward accelerating share repurchases under its long-term strategic plan. The company also plans a substantial issuer bid of up to $800 million, funded by the Aeroplan transaction. Settlement is expected on August 17, 2026. Aeroplan is Air Canada’s loyalty program and has partnerships across the travel, financial, and commercial sectors. The investor group in the transaction also includes PSP Investments and British Columbia Investment Management Corporation. Air Canada retains the right to buy back the minority stake after a period of five to eight years from closing. |
Who has invested in Aeroplan?
2 investors have backed Aeroplan across its funding rounds, including Blackstone and La Caisse.
Lead investors include Blackstone and La Caisse.
Aeroplan Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
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Start Free TrialAeroplan Competitors
Aeroplan competitors include listed companies like Talabat, Zillow, Swiggy and Etsy, and private ones like Zepto and Ziroom.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $1.2B | - | $7B | 5.9x | ||
| Publicly listed | $1.7B | $323M | $7.3B | 1.5x | ||
| Publicly listed | $2.6B | $315M | $6.8B | 2.3x | ||
| Publicly listed | $2.4B | ($322M) | $7.6B | 2.4x | ||
| Publicly listed | $2.9B | $323M | $6.6B | 3.0x | ||
| Private | - | - | $6.6B | - |
Aeroplan Public Comps
Aeroplan is still privately-owned, but its public comps include Talabat, Zillow, Swiggy, Etsy, BOSS Zhipin, carsales.com, CTS Eventim, Scout24, Lyft and Autotrader Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.7B | $323M | 3.9x | 1.5x | 20.4x | 11.6x | |||
| $2.6B | $315M | 2.6x | 2.3x | 21.2x | 9.4x | |||
| $2.4B | ($322M) | 2.8x | 2.4x | (20.6x) | (23.7x) | |||
| $2.9B | $323M | 3.0x | 3.0x | 26.6x | 10.6x | |||
| $1.2B | $493M | 2.8x | 2.6x | 7.1x | 5.7x | |||
| $892M | $475M | 8.3x | 8.2x | 15.6x | 14.7x | |||
| $3.5B | $622M | 1.4x | 1.3x | 7.9x | 7.1x | |||
| $748M | $385M | 8.6x | 7.6x | 16.8x | 12.7x | |||
This data is available for Pro users. Sign up to see all Aeroplan competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Aeroplan
| When was Aeroplan founded? | Aeroplan was founded in 1984. |
| Where is Aeroplan headquartered? | Aeroplan is headquartered in Montreal, Canada. |
| Is Aeroplan publicly listed? | No, Aeroplan is a private, VC-backed company. |
| What is Aeroplan's valuation? | Aeroplan was last valued at $7.1B in its secondary sale in August 2026. |
| Who are Aeroplan's investors? | Aeroplan's investors include La Caisse and Blackstone. |
| What is Aeroplan's revenue? | Aeroplan's latest recorded revenue is $4.5B (August 2026). |
| What is Aeroplan's revenue multiple? | Aeroplan's latest valuation implies a 1.6x revenue multiple ($7.1B valuation on $4.5B of revenue). |
| Which companies are comparable to Aeroplan? | Companies comparable to Aeroplan include Zepto, Talabat, Zillow, Swiggy, Etsy and Ziroom. |
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