ACE Aviation Holdings, parent of Air Canada, said its shareholders overwhelmingly approved a statutory arrangement under the Canada Business Corporations Act giving ACE's board the authority to make "one or more special distributions to shareholders" of up to C$2 billion in capital, including units of its Aeroplan Income Fund subsidiary. It is expected to be completed by year end. The measure passed with 95.5% approval and was approved by Quebec Superior Court. The Air Canada Pilots Assn. is ...

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