Aimia Air Canada Collective Agreement

Air Canada, along with its partners TD, CIBC and Visa, will purchase the $450 million cash loyalty program and take responsibility for uncashed Aeroplan miles worth approximately $1.9 billion. In announcing the agreement, Air Canada reiterated its plans to use Aeroplan (and its existing members) as the basis for a new frequent flyer program that the airline plans to launch in 2020. The transaction is subject to shareholder and supervisory approval and other closing conditions. It is expected to close in the fall. Unifor says workers hired after 2016 have been paid less, but will now see an increase in compensation of about 60 percent over the course of the five-year deal. MONTREAL, Nov. 26, 2018 /CNW Telbec/ – Aimia Inc. (TSX: AIM) („Aimia“) announced today that it has entered into a definitive share purchase agreement with Air Canada (the „Agreement“) for the purchase of the entire issued and pending share capital of Aimia Canada Inc. („Aimia Canada“), owner and operator of Aeroplan`s loyalty program, via a cash purchase price of $450 million on a cash-free basis. „We are pleased that an agreement in principle has been reached as Aeroplan members can continue to earn and trade money with confidence,“ calin Rovinescu, President and CEO of Air Canada, said in a statement. „Pending a final agreement with Air Canada and the consortium, this is business as usual and it is not appropriate to comment further on them,“ Smitham added. Michael Deluce, executive vice president and chief commercial officer of Porter Airlines, said in a statement to BNN Bloomberg that the airline „understood from the outset that Aeroplan could be purchased before its agreement went into effect in July 2020“ and that it was not in a position to express itself further until a final agreement was reached.

TORONTO – Approximately 400 Aeroplan employees have ratified a collective agreement that standardizes salaries for employees in the newly acquired loyalty program. The agreement in principle comes after Aimia turned down the Air Canada-led group`s softened US$325 million offer in early August, after initially offering $US 250 million as well as the purchase of $US 2 billion in points-based commitments. For more information about Aimia, see www.aimia.com. The preliminary agreement to sell Aeroplan to the Air Canada consortium raises questions about the potential impact on Aimia`s new partnerships. „From the beginning of the discussions, we were aware that this could be the end result…

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