Exchange Income Corp. Expands Northern Aviation with Canadian North Acquisition
- Exchange Income Corp acquired Canadian North for $205 million, enhancing its Northern aviation services to 24 remote communities.
- The acquisition expands EIC's operational capacity and integrates established routes from Ottawa and Edmonton.
- EIC is committed to community support, including doubling the Atik Mason Indigenous Pilot Pathway capacity by 2026.
Exchange Income Corp Expands Northern Aviation Reach with Canadian North Acquisition
Exchange Income Corporation (EIC), a diversified acquisition-oriented company focused on Aerospace & Aviation and Manufacturing, strengthens its foothold in the Northern aviation sector through the recent acquisition of Bradley Air Services Limited, which operates as Canadian North. This strategic acquisition, finalized at a total purchase price of $205 million, significantly enhances EIC's operational capacity, enabling it to offer essential passenger and cargo services to 24 remote communities in Nunavut and the Northwest Territories. The deal, initially announced in late February 2025, reinforces EIC's commitment to providing comprehensive air services in the far north, integrating Canadian North's established routes that generate substantial revenue from southern gateways in Ottawa and Edmonton.
Canadian North's fleet, which includes Boeing 737 jets and ATR turboprops, complements EIC’s existing subsidiary, Calm Air, which services the central region of Nunavut. This acquisition marks a pivotal moment for EIC, as it allows the company to expand its service coverage across the eastern and western regions of Northern Canada for the first time. Although the initial returns on capital from this acquisition are projected to be lower than EIC's typical thresholds, the company anticipates that operational efficiencies and improvements will drive targeted returns by the end of the second year. This strategic move not only broadens EIC’s operational capabilities but also reflects its intention to enhance community support through investments in infrastructure, training, and job opportunities in the regions it serves.
EIC's commitment to the communities in which it operates is further exemplified by its initiative to double the capacity of the Atik Mason Indigenous Pilot Pathway in Nunavut by 2026. This pathway aims to reduce barriers to flight training for Indigenous students, thereby fostering a strong connection to Indigenous culture while addressing challenges related to cost and location. Launched in 2022 and expanded to Nunavut in 2024, this program is a testament to EIC's long-standing investment in local communities. As part of this initiative, the company has already seen its first student begin flying this year, with additional students set to complete their training in 2026, all poised for job placements within EIC’s airlines. This expansion not only aims to increase the number of Indigenous pilots but also underscores EIC’s dedication to nurturing future talent in the aviation sector.
In summary, Exchange Income Corporation's acquisition of Canadian North and its commitment to the Atik Mason Indigenous Pilot Pathway illustrate the company’s focus on enhancing aviation services in Northern Canada while investing in community development. EIC’s disciplined acquisition strategy remains pivotal to its growth in the Aerospace & Aviation and Manufacturing sectors, with a clear emphasis on supporting the regions it operates in as integral to its identity and operational success.