MONTREAL, July 17, 2019 /CNW Telbec/ - Aimia Inc. (TSX: AIM), a loyalty and travel-focused consolidator, today responded to statements made by Grupo Aeromexico S.A.B. de C.V. ("Aeromexico") regarding Aimia's 48.855% stake in PLM Premier, S.A.P.I. de C.V. ("PLM"), the owner and operator of Aeromexico's Club Premier frequent flyer program.
Aimia notes that PLM Premier has been a highly successful partnership. Aimia's involvement in the development and execution of the PLM program has been critical to the program's management and profitability leading to the increase in distribution to both Aeromexico and Aimia announced earlier this year.
Aimia is disappointed that Aeromexico would disclose non-material communications as a means to leverage its desire to buy back Aimia's interest in PLM. Contrary to Aeromexico's assertions, Aimia has no knowledge of any irregularities or potential breaches with respect to Aimia's obligations governing PLM. Aimia will uphold its rights under the various contractual arrangements regarding Aeromexico's and Aimia's joint investment in PLM, which benefits from a contract term with Aeromexico that runs to 2030.
Aeromexico and Aimia are parties to a shareholders' agreement setting out their respective rights and obligations regarding PLM and Aimia believes that a number of Aeromexico's statements are inconsistent with that agreement.
Aimia remains focused on executing on its business plan and serving the interests of its shareholders, members, customers and other stakeholders.
Aimia Inc. (TSX: AIM) is a loyalty and travel consolidator focused on growing earnings through its existing investments and the targeted deployment of capital in loyalty solutions and other sub-sectors of the rapidly-expanding loyalty and travel markets.
Its investments in travel loyalty include the Club Premier program in Mexico, which it jointly controls with Aeromexico through its investment in PLM, and an investment alongside Air Asia in travel technology company BIGLIFE, the operator of BIG Loyalty.
Aimia also operates a loyalty solutions business, which is a well-recognized, global full-service provider of next-generation loyalty solutions for many of the world's leading brands in the retail, CPG, travel & hospitality, financial services and entertainment verticals.
For more information about Aimia, visit corp.aimia.com.
This press release contains forward-looking information within the meaning of applicable Canadian securities legislation, including relating to a potential future implementation of any normal course issuer bid. Please refer to Aimia's Annual Report, available on the Company's website at corp.aimia.com, and on the Canadian Securities Administrators' website at www.sedar.com, for Aimia's Caution Regarding Forward-looking Statements.
Aimia disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities laws, rules and regulations.
SOURCE Aimia Inc.