Scotiabank analyst Konark Gupta has maintained a Sector Perform rating on Air Canada while raising the price target to C$26 from the previous C$21. The revised target suggests a potential upside based on the airline's current valuation and market conditions.

Rating and Price Target

The decision to retain the Sector Perform rating indicates that the stock is expected to perform in line with the broader sector. The increase in the price target to C$26 signals a more optimistic view on the stock's future price movement compared to the earlier estimate of C$21.

The adjustment comes as analysts reassess the financial outlook and operational performance of Air Canada in the context of the current economic environment.

Air Canada’s Aeroplan and World of Hyatt announced a collaboration on July 15, 2026, providing members with expanded opportunities to earn and redeem rewards across travel experiences. The partnership integrates two loyalty programs, offering benefits across a combined network of more than 1,300 destinations and 1,500 hotels. Members can link their accounts to unlock new earning and redemption options, enhancing flexibility from flights to hotel stays.

Rewards and Redemption Options

Aeroplan Members can redeem points for World of Hyatt Free Night Awards at eligible hotels and resorts, including Category 1-4 and Category 1-7 awards, starting at 25,000 Aeroplan points. Conversely, World of Hyatt members can redeem points for a 30,000-point Aeroplan flight reward certificate, applicable toward Air Canada and its partner flights. These options provide greater flexibility in using reward points.

Accelerated Earning Opportunities

Members can earn points on eligible stays at participating Hyatt hotels and resorts. Aeroplan Members may elect to earn 500 Aeroplan points per stay instead of World of Hyatt points. Additionally, Aeroplan Credit Cardholders issued in Canada can earn bonus points on Hyatt stays:

Point conversions are available between programs. World of Hyatt points can be converted to Aeroplan points at a 2:1 ratio, starting at 5,000 points, with subsequent conversions in 1,000-point increments. Linked Aeroplan Elite Status Members can convert Aeroplan points to World of Hyatt Bonus Points at a 2:1 ratio, with a minimum of 500 Aeroplan points per transaction, up to 100,000 points daily or 250,000 points weekly.

Elite Status Benefits

Aeroplan Elite Status Members and eligible premium credit cardholders can fast-track to World of Hyatt status through an annual 90-day challenge. Requirements include:

• Discoverist status: 4 nights
• Explorist status: 10 nights
• Globalist status: 20 nights

Aeroplan Premium Credit Cardholders receive complimentary World of Hyatt Discoverist status, five Tier-Qualifying Night credits annually, and two annual attempts at the status challenge. World of Hyatt Discoverists, Explorists, and Globalists receive a C$20 Air Canada flight credit annually upon linking accounts. Later in 2026, Explorists and Globalists can register for challenges to fast-track to Aeroplan Elite Status.

Executive Quotes

Scott O’Leary, Vice President, Loyalty and Product at Air Canada, stated that the collaboration creates meaningful value across the travel journey, particularly for eligible Aeroplan Credit Cardholders who can earn accelerated points on Hyatt purchases. Laurie Blair, Senior Vice President of Global Marketing and Loyalty at Hyatt, emphasized that the partnership makes travel more rewarding by offering seamless ways to earn and redeem benefits across both programs.