ACE Aviation Holdings Inc.

Montreal, QC Canada

  (Toronto: ACE)

Company Description

Canadian holding company ACE Aviation has been spinning off its operating businesses as freestanding companies and in early 2012 signaled its willingness to throw in the towel completely. ACE began accelerating its divestment activities in late 2010 when it trimmed its operations and started liquidating its assets, including its remaining stake in Air Canada (which ACE has whittled down to about 11%). In a major step, the company shed its holdings in Aeroplan, a loyalty marketing business that began operations as Air Canada's frequent flier program, and Jazz, Air Canada's regional affiliate, in 2008. ACE's board is now seeking shareholders' approval to wind up all its operations, sell its assets, and dissolve.