Canada Development Investment Corporation to acquire a 5.7% stake in Air Canada for $500m.

Canada Development Investment Corporation, an investment manager, agrees to acquire a 5.7% stake in Air Canada, an airline, for $500m. Air Canada – Canada's largest domestic and international carrier – is one of the world's 20 largest airlines. The company currently has 15k active Canadian employees. As a condition of its agreement with CEEFC, Air Canada has committed to maintaining jobs, resuming air service, and refunding customers for flights canceled during the pandemic.