Aircraft parts and inventory manager Aero Inventory has sold aircraft parts to Air Canada for $100 million (£66 million).

Aircraft parts and inventory manager Aero Inventory has sold aircraft parts to Air Canada for $100 million (£66 million).

The Montreal-based company, which is being paid with bills of exchange, has supplemented the cash from the Air Canada deal by raising nearly £12 million at 250p a share.

The shares, floated on AIM nine years ago at 123p, hit 722.5p at the end of 2007, before plunging to 200p last October, and have since perked up to 280p, valuing the company at £133.4 million.