MONTREAL—Shareholders of Aimia Inc. voted Tuesday to approve the sale of its Aeroplan loyalty program to an Air Canada-led consortium, cementing the takeover but leaving questions about Aimia’s future up in the air. The $450-million deal will see Air Canada buy Aeroplan for cash and assume $1.9 billion in liabilities to points holders, partially backed by two banks that offer Aeroplan credit cards. The banks and Visa have agreed to stay with the loyalty program until at least 2030. Air Canada has said Aeroplan members will see their points transferred to a new loyalty program with the airline when its partnership with Aimia expires in 2020. Analysts say the deal will give Air Canada better access to customer data and likely boost margins in the near term.

Source: thestar January 08, 2019 16:11 UTC