MONTREAL, Aug. 31, 2018 /CNW/ - Aimia (TSX: AIM) today announced it has entered into an agreement to settle the class action relating to changes made to the mileage expiry and accumulation rules of the Aeroplan program announced on October 16, 2006.
Pursuant to the proposed terms of the settlement, Aimia has agreed to deposit a set amount of Aeroplan miles into the account of eligible members. The Company's June 30, 2018 financial statements reflect the direct costs associated with the settlement. While the company believes its position was reasonable, reaching a settlement agreement is a positive resolution for members and stakeholders. The settlement remains subject to the approval of the Superior Court of Quebec.
Aimia Inc.'s (TSX: AIM) data-driven marketing and loyalty analytics provides clients with the customer insights they need to make smarter business decisions and build relevant, rewarding and long-term one-to-one relationships, evolving the value exchange to the mutual benefit of both our clients and consumers.
Aimia partners with groups of companies and individual companies to help generate, collect and analyze customer data and build actionable insights.
Our businesses include Aeroplan in Canada and Air Miles Middle East. The provision of loyalty strategy, program development, implementation and management services for other clients are underpinned by leading products and technology platforms such as the Aimia Loyalty Platform – Enterprise and Aimia Loyalty Platform – SaaS, and through our analytics and insights business, including Intelligent Shopper Solutions. In other markets, we own stakes in loyalty programs, such as Club Premier in Mexico and Think Big, a partnership with Air Asia and Tune Group. Our clients are diverse, and we have industry-leading expertise in the fast-moving consumer goods, retail, financial services, and travel and airline industries globally to deliver against their unique needs.
For more information about Aimia, visit www.aimia.com.