Air Canada offered to wide range of buyers

MONTREAL, Feb. 9 (UPI) -- The president of Air Canada's parent company said he is looking to sell a stake in the company to a wide range of possible purchasers, a report said.

ACE Aviation Holdings Inc. President Robert Milton said he could potentially sell to private equity firms, pension funds or U.S. carriers, the Toronto Globe and Mail reported Saturday.

ACE Aviation Holdings Inc. reportedly has been approached by outside purchasers who are aware of the underpricing of Air Canada shares.

"We have now been approached by private equity, by pension funds," Milton said.

Class B Air Canada shares reportedly were priced at $10.72 on the news, which is a 49 percent drop since November 2006.