Investment Follows Club Premier’s Signing Of Co-Branded Credit Card Deal With Grupo Financiero Banamex and Aeromexico
MONTREAL, Feb. 28 /CNW Telbec/ – Groupe Aeroplan Inc. (TSX: AER), today announced that it has completed the second tranche of its minority investment in Premier Loyalty & Marketing, S.A.P.I. de C.V. (PLM), owner and operator of Mexico’s leading coalition loyalty program, Club Premier. This additional investment of US $11.8 million follows the signature of the co-branded credit card agreement between PLM, Aeromexico and Grupo Financiero Banamex, the leading financial group in Mexico.
“We are very pleased with the progress of the Club Premier program over the recent months and we look forward to the further growth and evolution of the program into Latin America’s best coalition loyalty program,” said Rupert Duchesne, President and CEO of Groupe Aeroplan.”
As a result of the completion of this second tranche, Groupe Aeroplan will now account for its investment in PLM under the equity method.
About Groupe Aeroplan Inc.
Groupe Aeroplan Inc., a global leader in loyalty management, owns Aeroplan, Canada’s premier coalition loyalty program, Carlson Marketing, an international loyalty marketing services, engagement and events provider headquartered in the U.S., as well as Nectar, the United Kingdom’s largest coalition loyalty program. Groupe Aeroplan also operates LMG Insight & Communication, an international customer-driven insight and data analytics business. In addition, Groupe Aeroplan has majority equity positions in Air Miles Middle East and Nectar Italia as well as a minority position in Club Premier, Mexico’s leading coalition loyalty program. For more information about Groupe Aeroplan, please visit www.groupeaeroplan.com.
About Premier Loyalty & Marketing, S.A.P.I. de C.V.
Premier Loyalty & Marketing, S.A.P.I. de C.V. is a subsidiary of Grupo Aeromexico, it owns and operates Club Premier, the first frequent flyer program established in Latin America. The company’s objective is to reward the preference and loyalty of the Club Premier members through the accrual and redemption of Premier Kilometers. Members earn Premier Kilometers for flying with Aeromexico, Aeromexico Connect, SkyTeam airlines, LAN or Copa Airlines and for using co-branded cards or a variety of services from other loyalty partners. Members primarily use their Premier Kilometers to obtain flights on Aeromexico and other affiliated airlines.
Caution Concerning Forward-Looking Statements
Certain statements in this news release may contain forward-looking statements. Forward-looking statements are included in this news release. These forward-looking statements are identified by the use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “predict”, “project”, “will”, “would”, and similar terms and phrases, including references to assumptions. Such statements, by their nature, are based on assumptions and are subject to important risks and uncertainties. Any forecasts or forward-looking predictions or statements cannot be relied upon due to, amongst other things, changing external events and general uncertainties of the economy and the business of Groupe Aeroplan and its partners. Results indicated in forward-looking statements may differ materially from actual results for a number of reasons, including the factors identified throughout Groupe Aeroplan’s public disclosure record on file with the Canadian securities regulatory authorities. The forward-looking statements contained in this discussion represent Groupe Aeroplan’s expectations as of February 28, 2011 and are subject to change after such date. However, Groupe Aeroplan disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.