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MONTREAL – Aeroplan's parent company has benefited from its biggest boost since the announcement of a change of CEO in April after unveiling its loyalty program after the end of its exclusive partnership with Air Canada in 2020.
The shares of Aimia Inc. rose 19 cents or 8.3% to $ 2.49 in the morning on the Toronto Stock Exchange
Unhappy shareholders dropped the Montreal company's shares by 62% in May 2017 after Air Canada announced that it would not renew its 30-year partnership with Aeroplan and launch its own loyalty program in two years.
Aimia announced Thursday night that it planned to offer charter flights to its most popular destinations, expanding the program to more general rewards. , including hotels, cars and entertainment.
The company's stock price will rise over time, CEO Jeremy Rabe told the Canadian Press during his first media interview since
"The first thing I wanted to do "It was to ensure that members knew that from July 2020, we would have an incredible loyalty program," he said in an interview
. It was work # 1 and I think with this announcement we will be providing a lot more badurances to our members in this regard.
The first test will take place on August 3rd when he will unveil his second quarter results.
The five million Aeroplan members will be able to purchase seats on any airline anytime, anywhere, instead of being limited to the largest airline. Canada and its Star Alliance partners. According to her, Aeroplan is looking to recruit privileged airline partners and introduce several new program features that will allow it to obtain discounts of 5 to 40%. create a
Starting in September, Aeroplan will introduce a new online travel booking tool that will allow members to earn miles when they rent a car or book a hotel in cash
. Years, miles alone or in combination with money will be exchangeable for various travel, leisure and entertainment experiences, including concerts, spas and private jets.
Additional digital tools will be used. Rabe added: [TRADUCTION]
Aeroplan plans to offer redemptions from the same mileage levels for approximately 95% of its flight reimbursements. It answers one of the biggest questions members have about how Aeroplan will be in 2020.
It also provides for a point transfer program in 2020 that will allow members to convert Aeroplan Miles. in loyalty programs close to 20
RBC Capital Markets' Drew McReynolds described the details as "directionally positive".
"That said, we believe that it is still early to be able to offer air transport services. accurately gauge the extent to which the new Aeroplan Program will resonate with members in an increasingly crowded loyalty industry in Canada, and the ultimate economic benefit of Aeroplan under the new program. " , he writes in a report
. Investors should be more optimistic about the future viability of the company, added Neil Linsdell of Industrial Alliance Securities.
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