Air Canada to Cut Ties With Aeroplan and Start Own Loyalty Program
- Aeroplan to lose airline’s participation in June 2020
- Analysts predict cash-flow concerns, lower profits for Aimia
Air Canada flights are listed on a board at Toronto Pearson International Airport in Toronto, Ontario, Canada, on Wednesday, July 3, 2013.
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
Aimia Inc., operator of loyalty program Aeroplan, plunged as much as 65 percent after Air Canada said it will cut ties with the company in 2020 and launch its own rewards plan.
The shares dropped 57 percent to C$3.88 at 10:15 a.m. in Toronto after earlier falling to C$3.13 in the biggest intraday decline since they started trading in 2005. Air Canada rose 6.4 percent to C$15.84.