15 MAY 2018: American Express Canada says it has reached a deal with Aimia Inc. and Air Canada to extend its term as a credit card partner in the Aeroplan rewards programme. The company says the renewed contract extends through to June 29, 2020, to end at the same time as Air Canada's participation in Aeroplan.

Aimia's stock price has struggled since Air Canada announced last year that it would be splitting with the loyalty points company to start its own rewards programme.

Montreal-based Aimia announced in March that it was partnering with Amazon to earn points with purchases, but lost Imperial Oil's Esso gas stations as a partner in the same month.

Jeremy Rabe the new president and chief executive officer was appointed earlier this month, he replaces David Johnston who announced, earlier he was leaving the company.

Rabe was the founding CEO and a member of the Board of Directors of Premier Loyalty & Marketing, and was responsible for the management of Club Premier, Mexico’s leading coalition loyalty program. He was most recently an operating partner with Advent International, a leading global private equity firm where he provided strategic support to portfolio companies including LifeMiles, the loyalty programme of Avianca. He has also worked as a strategy consultant and frequent flyer program director for Aeromexico and TACA Airlines.

“Aimia has tremendous businesses around the world that provide a great foundation for value creation together with our partners, members, employees and other stakeholders” said Rabe, “I am excited about the opportunities ahead and honoured to be appointed to lead the Company through the next phase of its evolution.”

Visa also provides Aeroplan-branded credit cards through TD Bank and CIBC on contracts that expire in 2024. American Express's contract was set to expire this year.



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