Air Canada Officially Reacquires Aeroplan Frequent Flyer Program

Air Canada’s new Maple Leaf Lounge at LGA

Air Canada said on Thursday that it had completed the acquisition of Aimia Canada, which owns Aeroplan.

Aeroplan is the airline’s frequent flyer program that it spun off 13 years ago.

The acquisition was made in partnership with a group of financial institutions that includes TD Bank, CIBC, and Visa Canada. Air Canada said it had finalized agreements with these companies for their future participation in the frequent-flyer program and that it had entered into an agreement in principle with American Express to that end.

The deal was first announced in August of last year.

Air Canada said it will operate the Aeroplan program until July 2020, at which time it plans to launch a new frequent-flyer program. It also said that it will convert Aeroplan members’ miles on a one-to-one basis when the new plan is launched.

“With today’s purchase of Aeroplan, we are taking a major step forward on this transformational initiative,” said Calin Rovinescu, the airline’s CEO, referencing the new program the airline will introduce in 2020.

In addition, the carrier said that Aeroplan members’ status and benefits will continue unchanged now that the acquisition of Aeroplan has closed.

(Photo: Accura Media Group)