ACE Aviation Holdings

ACE Aviation Holdings was created as Air Canada emerged from bankruptcy in 2004;{{Cite journal|last=Wexler|first=Emily|date=May 2012|title=Going Glam At 75|url=https://archive.org/stream/Strategy_Magazine-2012-05#page/n35/mode/2up|journal=Strategy|publisher=Brunico Communications|volume=23|issue=5|page=40|issn=1187-4309|via=Internet Archive}}{{Sfn|Winnick|2009|p=9}} By the end of 2005, ACE completed restructuring and achieved reduced costs through outsourcing, automation and process simplification.{{Sfn|Gomez|2016|p=|pp=41–42}} One of the more significant changes was the merging of its six small airlines into Air Canada and Air Canada Jazz. ACE was not only a solution to Air Canada's bankruptcy, but also a strategic move by Robert Milton to create a portfolio of independent air transportation services companies out of what was Air Canada.{{Cite web|url=http://www.iata.org/events/agm/2011/Pages/ceoforum-robertmilton.aspx|title=Robert Milton|last=|date=2012|website=AGM 2011|publisher=IATA|archive-url=https://web.archive.org/web/20120314054708/http://www.iata.org/events/agm/2011/Pages/ceoforum-robertmilton.aspx|archive-date=14 March 2012}}

Among the companies in addition to Air Canada which was taken public after formation of ACE was the frequent flyer program Aeroplan.{{Sfn|Zook|2007|p=75}} Aeroplan's initial public offering valued the company at {{US$|2 billion}}, which was several times the valuation of the airline itself.{{Sfn|Zook|2007|p=75}}

In 2005, ACE contributed {{US$|75 million}} in equity investment to the merger of America West Holdings and US Airways Group, which resulted in US Airways emerging from its second bankruptcy.{{Sfn|Subcommittee on Aviation|2006|p=57}}

In 2008, ACE completed its divestment of Aeroplan and Air Canada's regional airline affiliate, Jazz.{{Cite news|url=https://www.reuters.com/article/aceaviation-sales/update-1-ace-sells-remaining-stakes-in-aeroplan-jazz-air-idUSN2844917420080528|title=UPDATE 1-ACE sells remaining stakes in Aeroplan, Jazz Air|last=|date=28 May 2008|access-date=15 June 2018|work=Reuters}} After these divestments, ACE retained a 75% stake in Air Canada and a 23% stake in Air Canada Technical Services.

On May 9, 2012, the company received a certificate of intent to dissolve, marking the end of any future activities by the company.{{Cite web|url=https://www.ic.gc.ca/app/scr/cc/CorporationsCanada/fdrlCrpDtls.html?corpId=4457366&V_TOKEN=1580268879418&crpNm=ACE%20Aviation%20Holdings%20Inc.&crpNmbr=&bsNmbr=|title=Federal Corporation Information - 445736-6 - Online Filing Centre - Corporations Canada - Corporations - Innovation, Science and Economic Development Canada|website=www.ic.gc.ca|access-date=2020-01-29}}

The company planned a wind up and distribution of its assets back to its shareholders by no earlier than mid-2013. While all of the core aviation assets have been disposed of, the corporate website continues to operate until all assets are fully disposed of. The company no longer has a board and executives, with all liquidation being managed by outside party Ernst & Young. {{As of|2019|12|31}}, filings state that ACE Aviation Holdings consisted of only cash and cash equivalents amounting to a total of {{CA$|6,7 million}}.

On March 15, 2024, the company was dissolved.

• Aeroplan – former in-house rewards program sold off and was owned by Aimia, later rebought by Air Canada.
• Air Canada – airline sold off
• Air Canada Cargo – transferred to control under Air Canada
• Air Canada Ground Handling Services – transferred to Air Canada
• Jazz Aviation LP – sold off and now owned by Chorus Aviation and operates as contractor for Air Canada
• Aveos Fleet Performance Inc. - formerly as Air Canada Technical Services before being renamed in 2008, acquired Air Canada Mechanics in 2011 and ceased operations in 2012 with remaining assets (equipment and Montreal facility) now acquired by Lockheed Martin Canada and AJW Technique.{{Cite web|url=https://www.aeromontreal.ca/j-walter-aviation-buys-component-repair-business-aveos.html|title=A J Walter Aviation buys the component repair business of Aveos}}
• Air Canada Vacations – transferred to Air Canada

{{Reflist|33em}}

• {{Cite report|url=https://archive.org/stream/gov.gpo.fdsys.CHRG-109shrg65069/CHRG-109shrg65069|title=Reviewing the Department of Transportation's Notice of Proposed Rulemaking That Clarifies the Rules Regarding Foreign Investment in U.S. Air Carriers|last=Subcommittee on Aviation|first=Committee on Commerce, Science, and Transportation United States Senate|date=9 May 2006|issue=S. HRG. 109-1124|publisher=Government Publishing Office |access-date=15 June 2018|via=Internet Archive}}
• {{Cite book|title=Ethics, Psyche and Social Responsibility|last=Gomez|first=Ana Maria Davila|publisher=CRC Press|year=2016|isbn=9781317141044|editor-last=Crowther|editor-first=David|series=Corporate Social Responsibility Series|oclc=1027158217|quote=The firm was restructured into ACE Aviation Holdings, starting as of April 1{{sup|st}} 2003 after 18 months under CCAA creditor protection....}}
• {{Cite book|title=Plunkett's Airline, Hotel & Travel Industry Almanac 2008|publisher=Plunkett Research, Ltd.|year=2007|isbn=9781593920937|editor-last=Plunkett|editor-first=Jack W.|location=Houston, Texas|oclc=884012692}}
• {{Cite book|url=https://archive.org/stream/economy0000winn|title=Economy|publisher=Weigl Educational Publishers Limited|year=2009|editor-last=Winnick|editor-first=Nick|series=Canada. Past, present, future.|location=Calgary, Alberta, Canada|oclc=1040000402|quote=Canada's largest airline, Air Canada, filed for bankruptcy protection in 2003. .... After 18 months, Air Canada emerged from bankruptcy protection, under the new ownership of ACE Aviation Holdings.|url-access=registration|via=Internet Archive}}
• {{Cite book|url=https://archive.org/stream/unstoppablefindi00zook|title=unstoppable: Finding Hidden Assets to Renew the Core and Fuel Profitable Growth|last=Zook|first=Chris|publisher=Harvard Business School Press|year=2007|isbn=978-1-4221-0366-1|location=Boston|oclc=939112546|author-link=Chris Zook|url-access=registration}}

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Category:Companies formerly listed on the Toronto Stock Exchange

Category:Companies listed on the NEX Exchange

Category:Air Canada

Category:Companies based in Montreal

Category:Canadian companies established in 2004

Category:Canadian companies disestablished in 2024

Category:Airline holding companies of Canada

Category:Holding companies established in 2004