first_img Travelweek Group Tags: Aeroplan Posted by Wednesday, August 22, 2018 << Previous PostNext Post >>center_img Here’s a timeline of Aeroplan’s turbulent history TORONTO — The saga over Aeroplan came to a close yesterday, with news that the consortium led by Air Canada has reached a deal to acquire the loyalty program from Aimia Inc. The deal, worth $450 million cash plus assumed liabilities, comes after more than a year of uncertainty since Air Canada said in May 2017 that it would switch to its own loyalty program in July 2020.Here are some significant dates in Aeroplan’s history:1984: Air Canada creates the frequent flyers loyalty program Aeroplan1991: The CIBC Aerogold Visa card is launched2000: Rupert Duchesne becomes CEO of Aeroplan2002: Aeroplan operates as a subsidiary of Air Canada2004: Aeroplan adds non-flight rewards2005: Air Canada spins off Aeroplan, which completes a public offering as an income trust2006: Aeroplan launches program allowing members to donate miles to charities2007: Aeroplan launches carbon offset program, allowing members to use miles to offset their carbon footprint2007: Aeroplan says miles will expire after seven years of being collected, effective in January 20142008: Air Canada sells its remaining stake in Aeroplan, which becomes a corporation operating as Groupe Aeroplan2011: Groupe Aeroplan changes name to Aimia Inc., as its strategy shifts to include loyalty programs operating outside of CanadaMore news:  Carnival Cruise Line enhances HUB app for families and youth2013: TD Bank becomes Aeroplan’s main financial partner after assuming about half of CIBC’s Visa Aeroplan card customers2013: Aeroplan backtracks and cancels seven-year mileage redemption policy after angry customers launch class-action lawsuitMay 11, 2017: Duchesne leaves the company after four-month medical leave of absenceMay 11, 2017: Air Canada announces that it will not renew its Aeroplan partnership in 2020 as it starts its own rewards program. Aimia shares plunge 63 per cent on the dayApril 2018: Aimia announces the resignation of CEO David JohnstonMay 2018: Jeremy Rabe appointed Aimia’s president and CEOJuly 19, 2018: Aimia announces plans to relaunch the Aeroplan program with charter flights and use of miles for any seats on any airlineJuly 25, 2018: Air Canada, CIBC, TD Bank and Visa Canada offer to acquire Aeroplan for $2.25 billion, including $250 million cash plus assumed liabilitiesJuly 27, 2018: Air Canada says it would restart talks with credit card partners to create its own loyalty program if Aimia fails to accept its offer within six daysMore news:  Honolulu authorities investigate arsons at 3 Waikiki hotels; no injuries reportedAug. 2, 2018: Aimia confirms talks with Oneworld airline alliance; talks with Air Canada fail despite higher $325 million offerAug. 3, 2018: Aimia announces deal with Porter Airlines to become an Aeroplan preferred Canadian airline as of July 2020Aug. 6, 2018: Mittleman Brothers LLC, largestshareholder in Aimia, issues public statement saying Air Canada’s offers were too low and suggesting Aeroplan was worth about $1.2 billion.Aug. 7, 2018: Aimia adds Air Transat and Flair Airlines to its list of Canadian airline partners.Aug. 21, 2018: Aimia reaches agreement with Air Canada-led consortium, which will pay $450 million in cash for Aeroplan and assume about $1.9 billion in liabilities associated with miles collected by customers.With file from The Canadian Press Sharelast_img

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