MONTREAL, Aug. 2, 2018 /CNW Telbec/ – Aimia Inc. (TSX: AIM), a data-driven marketing and loyalty analytics company, has engaged in constructive discussions with its current partners, Air Canada, The Toronto-Dominion Bank, Canadian Imperial Bank of Commerce as well as VISA Canada Corporation (the “Current Partners’ Consortium”) regarding their most recent unsolicited offer to acquire the Aeroplan loyalty program business.

“Aeroplan is committed to protecting our members’ miles,” said Jeremy Rabe, Chief Executive Officer, Aimia. “It is business as usual for Aeroplan and we expect all of the companies in the Current Partner Consortium to honour their long standing contractual obligations including issuing and redeeming members’ miles.”

The original Current Partner Consortium cash consideration was $250 million, updated to $325 million. Neither reflects the value of the Aeroplan business to members and stakeholders. Aimia has been in active dialogue with our Current Partner Consortium and Aimia’s current proposal removes the highly conditional nature, onerous terms and conditions as well as exclusions from previous offers, which could create near term uncertainty for members. Aimia’s current proposal is $450 million, including revised terms that remove all uncertainty from discussions with the Current Partners Consortium.

Aeroplan remains committed to maintaining differentiation on exceptional value, delivering a more flexible and enhanced experience for the engaged base of five million members, and providing a flexible choice of airlines, including Air Canada.

Aimia intends to provide updates if, and when necessary in accordance with applicable securities laws.