Aimia Provides Update on Status of Financial Card Agreement Discussions
MONTREAL, Aug. 26, 2013 /CNW Telbec/ – Aimia (TSX:AIM) announced today
that the previously announced discussions between Aimia, Canadian
Imperial Bank of Commerce (CIBC) and TD Bank Group (TD) relating to the
possibility of CIBC retaining Aeroplan cards held by their existing
banking customers with the balance to be acquired by TD are still
ongoing. A further update will be provided as and when warranted,
currently expected to be before the end of August. As stated
previously, there can be no assurance that an agreement will be
reached.
Should no definitive agreement be reached, TD will become Aeroplan’s
sole financial credit card partner effective from January 1, 2014.
Aeroplan’s current agreement with CIBC will continue until December 31,
2013. Members can continue to earn miles as usual on their
Aeroplan/CIBC co-branded credit cards for the remainder of 2013. Miles
that members have accumulated with their Aeroplan/CIBC co-branded
credit card up until the end of 2013 are deposited into their Aeroplan
accounts and are not tied to their credit card.
About Aeroplan
Aeroplan, Canada’s premier coalition loyalty program, is owned by Aimia
Inc., a global leader in loyalty management. Aeroplan’s millions of
members earn Aeroplan Miles with its growing network of over 75
world-class partners, representing more than 150 brands in the
financial, retail, and travel sectors.
In 2012, approximately 2.3 million rewards were issued to members
including more than 1.6 million flights on Air Canada and Star Alliance
carriers which offer travel to more than 1,000 destinations worldwide.
In addition to flights, members also have access to over 1,000 exciting
specialty, merchandise, hotel, car rental and experiential rewards.
About Aimia
Aimia Inc. (“Aimia” or the “Corporation”) is a global leader in loyalty
management. Employing more than 4,000 people in over 20 countries
worldwide, Aimia offers clients, partners and members proven expertise
in launching and managing coalition loyalty programs, delivering
proprietary loyalty services, creating value through loyalty analytics
and driving innovation in the emerging digital, mobile and social
communications spaces.
Aimia owns and operates Aeroplan, Canada’s premier coalition loyalty
program, Nectar, the United Kingdom’s largest coalition loyalty program
and Nectar Italia. In addition, Aimia owns stakes in Air Miles Middle
East, Mexico’s leading coalition loyalty program Club Premier,
Brazil’s Prismah Fidelidade, and i2c, a joint venture
with Sainsbury’s offering insight and data analytics services in
the UK to retailers and suppliers. Aimia also holds a minority position
in Cardlytics, a US-based private company operating in
transaction-driven marketing for electronic banking. Aimia is listed on
the Toronto Stock Exchange (TSX: AIM). For more information, visit us
at www.aimia.com.
SOURCE AIMIA
Contact:
Media
JoAnne Hayes
416-352-3706
joanne.hayes@aimia.com
Analysts
Karen Keyes
416-352-3728
karen.keyes@aimia.com