highflyer
Posts: 13
Joined: Thu Aug 05, 2004 5:28 am

ACE Hits Pay Dirt

Sat Jul 08, 2006 8:09 am

Seems like all the naysayers have been proven wrong...again!

Nice release from ACE...275% return on the US Airways investment...so far.

----------
ACE Aviation Holdings Inc. Sells Additional 2.75 Million Shares in US Airways Inc., Total Proceeds Now Exceed US$200M; Retains 500,000 Shares Valued at US$27.8M

MONTREAL, July 7 /CNW Telbec/ - ACE Aviation Holdings Inc. (ACE) said
today it has sold a further 2.75 million shares in US Airways Group Inc. (US
Airways) at an average price of over US$50 per share through a series of
transactions on the open stock market for aggregate net proceeds of
US$137.93 million.
These additional sales commenced in June with 1.5 million shares sold
prior to June 30 at an average price of over US$47 per share for net proceeds
of US$71.70 million. In July, ACE sold an additional 1.25 million shares at an
average price of US$53 per share for net proceeds of US$66.23 million.
Today's announcement follows on ACE'S sale of 1.75 million shares to PAR
Investment Partners LP for net proceeds of US$67.55 million in April 2006.
Total net proceeds to date from the sale of US Airways shares amount to
US$205.48 million, as compared to ACE's original investment of US$75 million
in September 2005 for 5 million shares. As of July 7, ACE still holds 500,000
shares in US Airways with a market value of US$27.8 million based on the
closing price on July 6, 2006.

ACE Aviation Holdings is the parent holding company of Air Canada and
certain other subsidiaries including Aeroplan LP, Jazz Air LP and ACTS LP.
Montréal-based Air Canada provides scheduled and charter air transportation
for passengers and cargo to more than 150 destinations on five continents.
Canada's flag carrier is the 14th largest commercial airline in the world and
serves 30 million customers annually with a fleet consisting of 332 aircraft.
 
aircanada014
Posts: 1224
Joined: Sun Oct 09, 2005 2:24 pm

RE: ACE Hits Pay Dirt

Sat Jul 08, 2006 9:56 am

Wow another successful investment for AC. Seems they know what they are doing. First successful investment for AC was CO now its the new US. I wonder whats next for investment opportunity for AC? Any ideas....

Popular Searches On Airliners.net

Top Photos of Last:   24 Hours  •  48 Hours  •  7 Days  •  30 Days  •  180 Days  •  365 Days  •  All Time

Military Aircraft Every type from fighters to helicopters from air forces around the globe

Classic Airliners Props and jets from the good old days

Flight Decks Views from inside the cockpit

Aircraft Cabins Passenger cabin shots showing seat arrangements as well as cargo aircraft interior

Cargo Aircraft Pictures of great freighter aircraft

Government Aircraft Aircraft flying government officials

Helicopters Our large helicopter section. Both military and civil versions

Blimps / Airships Everything from the Goodyear blimp to the Zeppelin

Night Photos Beautiful shots taken while the sun is below the horizon

Accidents Accident, incident and crash related photos

Air to Air Photos taken by airborne photographers of airborne aircraft

Special Paint Schemes Aircraft painted in beautiful and original liveries

Airport Overviews Airport overviews from the air or ground

Tails and Winglets Tail and Winglet closeups with beautiful airline logos