MONTREAL—Air Canada has completed its purchase of the Aeroplan loyalty program from Aimia Inc., assuring customers their miles will be honoured on a “one-to-one basis” when the airline’s new rewards program launches in 2020. Aimia Inc. says it has completed the sale of its Aeroplan loyalty program to Air Canada and used the majority of the proceeds to repay is debt. Aimia said about half of its 1,500 employees will move to Air Canada as a result of the transaction. The loyalty analytics company’s other assets include the Air Miles Middle East loyalty program, a 48 per cent stake in Aeromexico’s loyalty program, PLM, and a 20 per cent share of AirAsia’s loyalty program, Think Big. The banks and Visa have agreed to stay with the loyalty program until at least 2030.

Source: thestar January 10, 2019 14:18 UTC