Ace Aviation Holdings Inc. announced earnings results for the second quarter ended June 30, 2016. In the second quarter of 2016, ACE recorded a decrease in net assets in liquidation of approximately $12.2 million as a result of the distribution to the shareholders of ACE in the aggregate amount of $12 million which was paid on June 22, 2016, and as a result of administrative and other expenses incurred during the quarter, offset by interest income earned during the quarter.