Skip to main content
This website uses cookies. By continuing to use this website you are agreeing to our use of cookies as described in our privacy policy.
Client Work

Air Canada completes acquisition of Aimia’s Aeroplan loyalty business

Reading Time 2 minute read Subscribe

Air Canada

Fasken represented Air Canada in the successful closing of its purchase of Aimia Inc.’s Aeroplan loyalty program in a transaction valued at approximately $2.4 Billion and the completion of a number of commercial agreements related to the new loyalty program of Air Canada with The Toronto-Dominion Bank, Canadian Imperial Bank of Commerce, Visa Canada Corp. and Amex Bank of Canada. The M&A aspects of the transaction were co-led by Claude E. Jodoin (Tax) and Neil Kravitz (M&A) with a team that included Costa Ragas, Frédérique Tremblay and Janie Harbec (M&A), Paul Cabana, Frédéric Barriault and Taj Kudhail (Tax), Huy Do, John Pecman, Chris Margison and Jenna Ward (Competition and Regulatory), Samuel Rickett (Litigation) and Luc Béliveau (Insolvency). The team was also supported by others with respect to due diligence, IP, Labour and Employment, Tax and Privacy. Concurrent with the M&A transaction, Air Canada entered into a number of new co-brand credit card program agreements with each of The Toronto-Dominion Bank and Canadian Imperial Bank of Commerce together with a network agreement with Visa Canada Corporation. Shortly thereafter, Air Canada entered into new co-brand credit card program agreements with Amex Bank of Canada. The credit card and loyalty program aspects of the transaction were led by Stephen D.A. Clark and Kathleen Butterfield (Financial Services and Loyalty Programs) and included Daniel Fabiano (Privacy), Craig Bellefontaine (Financial Services) and Taisha Lewis (Corporate). “We are extremely proud to have partnered with Air Canada in a transformative and landmark deal,” said Peter Feldberg, Firm Managing Partner. “We’re honoured to have played a part in helping Air Canada to protect the Aeroplan program for the benefit of its loyal customers.”


    Receive email updates from our team