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Client Work

Air Canada Completes Acquisition of Aimia’s Aeroplan Loyalty Business

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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 (“TD”), Canadian Imperial Bank of Commerce (“CIBC”) and Visa Canada Corp. (“Visa”).

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.

Concurrently, Air Canada entered into new co-brand credit card program agreements with The Toronto-Dominion Bank ("TD"), Canadian Imperial Bank of Commerce ("CIBC"), and Visa Canada Corporation ("Visa") Air Canada has also entered into an agreement in principle with Amex Bank of Canada, which also issues Aeroplan co-branded products, for its continued participation in Aeroplan and in Air Canada's new loyalty program. The credit card and loyalty aspect of the transaction was 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.”


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