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Bloomberg
The year has been one for the record books when it comes to Canadian airline stocks.
The country’s four biggest carriers have seen double-digit share price growth amid a myriad of deals and stake purchases.
The corporate transactions have added a total of about $5.3 billion in market value to the companies, according to data compiled by Bloomberg.
Amazon.com Inc’s deal announced with Mississauga,Ontario-based Cargojet Inc to take a potential ownership position in the cargo carrier added another notch as the Canadian stock rallied to a record high. Cargojet will issue warrants to Amazon in two tranches to purchase variable voting shares that will vest based on the achievement of certain commercial milestones.
Air Canada has been embroiled in a battle with rival bidder Group Mach to acquire Transat AT.
Canada’s largest airline upped its offer to C$720 million, securing support from the tour operator’s largest shareholder. Air Canada has surged 70 percent this year, the best-performing stock in the Bloomberg World Airlines Index. Transat has more than doubled. In May, WestJet Airlines Ltd agreed to be acquired by Canadian private equity firm Onex Corp. for C$3.5 billion in cash. Westjet has gained 72 percent on the year.