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4-Traders Homepage  >  Equities  >  Toronto Stock Exchange  >  Aimia Inc    AIM   CA00900Q1037

AIMIA INC (AIM)
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American Express extends Aeroplan deal to 2020 to exit alongside Air Canada

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05/15/2018 | 01:15am CEST

TORONTO — American Express Canada says it has reached a deal with Aimia Inc. and Air Canada extend its term as a credit card partner in the Aeroplan rewards program.

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 program.

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.

The company is searching for a new CEO as it looks to prepare the company for life after Air Canada, after its current chief executive David Johnston announced in late April that he would leave once a replacement was found.

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.

Companies in this story: (TSX:AC)(TSX:AIM)

© 2018 The Canadian Press. All rights reserved., source Canadian Press DataFile

Stocks mentioned in the article
ChangeLast1st jan.
AIR CANADA -1.10% 24.32 Delayed Quote.-6.03%
AMERICAN EXPRESS COMPANY -0.23% 100.99 Delayed Quote.1.92%
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Financials ( CAD)
Sales 2018 1 521 M
EBIT 2018 -
Net income 2018 -
Debt 2018 304 M
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019
EV / Sales 2018 0,41x
EV / Sales 2019 0,21x
Capitalization 314 M
Chart AIMIA INC
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Aimia Inc Technical Analysis Chart | AIM | CA00900Q1037 | 4-Traders
Technical analysis trends AIMIA INC
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TrendsBullishBearishNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 10
Average target price 2,22  CAD
Spread / Average Target 4,7%
Managers
NameTitle
Jeremy Rabe President, Chief Executive Officer & Director
Robert Ellis Brown Executive Chairman
Mark David Grafton Chief Financial Officer
Roman Doroniuk Independent Director
Emma Kate Griffin Independent Director
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