Aimia in Talks with New Aeroplan Partners as It Braces for Air Canada's Departure

The Canadian Press, August 10, 2017 | Go to article overview

Aimia in Talks with New Aeroplan Partners as It Braces for Air Canada's Departure


Aimia in talks with new Aeroplan partners

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MONTREAL - Loyalty program operator Aimia Inc. (TSX:AIM) swung to a loss of $25.1 million in its latest quarter as it said it's in talks with a number of potential partners to replace its departing Aeroplan partner Air Canada (TSX:AC).

CEO David Johnston wouldn't provide details of the Montreal-based company's plans for replacing Air Canada on a conference call with analysts Thursday, but said to "expect a re-invented program which will continue to be multi-airline."

Johnston and departing chief financial officer Tor Lonnum said during the call that Aimia's diversified customer base and cash resources are giving management time to cut costs, simplify the business and find new offerings for card holders.

Still, Johnston said Aeroplan customers mainly use their points for travel, and that's likely to continue both before and after 2020 when Air Canada will begin to operate its own points program. …

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Aimia in Talks with New Aeroplan Partners as It Braces for Air Canada's Departure
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