TORONTO, Aug. 21, 2023 (GLOBE NEWSWIRE) -- Stack Capital Group Inc., (TSX:STCK and STCK.WT) is pleased to announce that Hopper, Inc. (“Hopper”), an existing portfolio holding, has partnered with Air Canada (TSX:AC), bringing its ‘Cancel for Any Reason’ feature to Air Canada customers looking for the flexibility to change travel plans - delivering greater peace of mind.
For a fee, Air Canada customers can now add ‘Cancel for Any Reason’ to eligible non-refundable Standard, Flex, Premium Economy Lowest, and Business Class Lowest fare types booked on the Air Canada website, allowing them to easily cancel their flight up to 24 hours before scheduled departure. Based on the level of coverage purchased, a refund of 80% or 100% of the original eligible booking is issued immediately to the customer’s preferred payment method, with no additional wait time or steps required.
“Another impressive partnership announcement – this time with Air Canada, the largest airline in the country”, said Jeff Parks, CEO of Stack Capital. “The ability for Hopper Cloud to seamlessly integrate its ancillary products with world-class businesses such as Air Canada clearly demonstrates the value of its B2B platform, which represents a significant driver of growth for Hopper moving forward.”
To access a copy of the Hopper announcement please click here.
About Stack Capital
Stack Capital is an investment holding company and its business objective is to invest in equity, debt and/or other securities of growth-to-late-stage private businesses. Through Stack Capital, shareholders have the opportunity to gain exposure to the diversified private investment portfolio; participate in the private market; and have liquidity due to the listing of the Common Shares and Warrants on the TSX. At the same time, the public structure also allows the Company to focus its efforts on maximizing long-term performance through a portfolio of high growth businesses, which are not widely available to most Canadian investors. SC Partners Ltd. (the "Manager") has taken the initiative in creating the Company and acts as the Company's administrator and is responsible to source and advise with respect to all investments for the Company.
About Hopper
Hopper is the world's fastest-growing mobile-first travel marketplace, focused on helping customers save money and travel better. The Hopper app has over 100 million downloads and continues to capture market share around the world. By leveraging massive amounts of data and machine learning, the company has developed several unique fintech solutions that address everything from pricing volatility to trip disruptions. Through its B2B initiative, Hopper Cloud, the company is syndicating its travel fintech products and inventory, providing companies that aspire to sell travel a differentiated consumer experience and offering. Hopper has increased its revenue 2.5X year-over-year and now sells over $7 billion in travel and travel fintech annually. To find out more about Hopper, visit Hopper.com.
About Air Canada
Air Canada is Canada's largest airline, the country's flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada's Aeroplan program is Canada's premier travel loyalty program, where members can earn or redeem points on the world's largest airline partner network of 45 airlines, plus through an extensive range of merchandise, hotel, and car rental rewards. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada's passenger and freighter aircraft. Air Canada has committed to a net zero emissions goal from all global operations by 2050. Air Canada shares are publicly traded on the TSX in Canada and the OTCQX in the US.
For more information, please visit our website at www.stackcapitalgroup.com or contact:
Brian Viveiros
VP, Corporate Development, and Investor Relations
647.280.3307
brian@stackcapitalgroup.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/05a221be-20e3-4278-805c-bb9b96f000fa
