A top-flight IRO from a big Canadian bank joins a unique spin-off weeks before the IPO.
When Aeroplan spun off from ACE Aviation, Air Canada’s holding company, IRO Trish Moran and CEO Rupert Duchesne had to explain how the company could make money from handling frequent flier miles for an airline that had been on the verge of crash-landing not long before. Because Aeroplan was going public as an income trust, they also had to explain to foreign investors how this peculiarly Canadian structure worked. Then, shortly after the IPO, Moran and Duchesne also had to contend
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