Ace Aviation to cut ties with Air Canada staff
4:25 PM, E.T. | November 13, 2012

Ace Aviation could be close to cutting its ties with the Air Canada and will soon announce plans to sell its remaining shares in the carrier, BNN has learned.

Ace Aviation held 31 million shares in Air Canada as of June 30th, according to the most recent documents filed in its liquidation process.

Tax auditor Ernst & Young, which is overseeing Ace Aviation's liquidation, has not been available for comment.

A spokesperson for Air Canada tells BNN the company can't comment on what Ace Aviation may or may not be doing.

In April, Ace Aviation shareholders voted to approve the company's liquidation process.