Aimia and Porter Form Partnership
CBJ — Aimia Inc. has formed an alliance with Porter Airlines to become a preferred Canadian airline for the Aeroplan loyalty points program as of July 2020, when the arrangement with Air Canada ends.
The partnership follows Aimia’s rejection of a bid for Aeroplan from an Air Canada-led group that included the key Aeroplan credit card partners Toronto-Dominion Bank, Canadian Imperial Bank of Commerce and Visa Canada.
Porter is a much smaller airline than Air Canada, but Aimia opted to move in this direction nonetheless.
Investors reacted positively to the news, sending Aimia shares up by 8%.