More airlines added to the list of new Aeroplan partners
09 August, 2018, 22:55 | Author: Eric Barnett
Aeroplan loyalty plan owner Aimia has announced that two more Canadian airlines have signed up to the rewards plan. Air Canada and three partners - Visa, TD and CIBC - had revealed a takeover bid for Aeroplan a few days prior to that, and many travel experts thought Aeroplan would accept the offer.
Additionally, margin improvements related to a new in-house loyalty program, an updated fleet of increasingly fuel-efficient aircraft, and continued work toward making the airline's fleet more efficient should bode well for long-term investors.
The largest shareholder in Aeroplan's parent company, Aimia Inc., has applauded the firm's board of directors for not agreeing to sell the Aeroplan point program to a group led by Air Canada.
With a current price to earnings ratio of just above six times next year's earnings, Air Canada looks ridiculous when compared to almost any other company in any other industry. "This would in no way alter the longstanding and very successful association between our travel agency network Transat Distribution Canada (TDC) and Air Miles, with which we remain wholeheartedly engaged".
Air Transat, which flies to about 60 destinations, says Aeroplan points will be earned and redeemed on all the airline's flights and vacation packages.
The bidders, it seems, have seized on the fear that Aeroplan members will rush to redeem their miles before Air Canada's contract with Aeroplan expires in 2020, thus creating a rush of cash out the door for Aimia.
That's pretty sweet if you're a Transat customer. The relationship with Flair Airlines will give Aeroplan Members new redemption options, particularly those travelling out of Flair's Edmonton hub, extending from coast to coast and upcoming southern destinations.
They join Toronto-based Porter Airlines as recent partners in the Aeroplan points system, which Air Canada has said it will replace with its own loyalty points program when the Aimia contract expires. MR. Mittleman, however, argued that "even during the 2003 bankruptcy [court filing] of Air Canada, there was no run on the bank". Last week, Aeroplan also touted the potential for an arrangement with the Oneworld airline alliance, whose members include British Airways, American Airlines and Cathay Pacific.
"This is an exciting step toward our goal of providing Aeroplan Members with great value when both earning and redeeming miles on travel bookings to popular holiday and transatlantic destinations", Aimia CEO Jeremy Rabe said in a release Tuesday. "Our passengers will now be rewarded for their loyalty with the ability to earn and redeem Aeroplan Miles for flights".
"We are thrilled about this agreement in principle", said Transat's Adamo.
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