It’s official. Air Canada announced in a statement Thursday that it has completed the acquisition of loyalty program Aeroplan.
Master Travellr reported Wednesday that Aimia shareholders approved the $450-million deal that would see the ownership transfer back to Canada’s largest air carrier since it was spun off in 2002.
As part of the deal, the airline has also finalized agreements with Toronto-Dominion Bank, Canadian Imperial Bank of Commerce, and Visa Canada to continue co-branded credit card programs, while Air Canada has entered an agreement in principle with American Express to continue its program past 2020.
The Montreal-based company first announced its intent to launch a loyalty program back in 2017, severing ties with Aimia’s Aeroplan, focusing on improving its digital experience, upgrades, on-board enhancements, and more ways to earn and redeem points. The plan took a left turn last year when the airline decided to create a consortium to buy back the loyalty program.
Air Canada has assured flyers that Aeroplan miles will transfer one-to-one into the new program, and that there will be no changes to current status levels.
More details on the new program are expected to be announced later this year.
Source: Air Canada