air canada aeroplan

Air Canada just offered $2.25 billion to buy Aeroplan

In a stunning reversal of events, Air Canada has announced plans to buy back the Aeroplan loyalty program—which it abandoned only last year

Aeroplan, which was a frequent flyer program started by Air Canada, was sold to Aimia Inc. in 2002. Then, in 2017, Air Canada cut ties with the program in favour of its own loyalty system, which still has not been formed. 

Last year, it was announced that Aeroplan miles would be redeemable on Air Canada flights until the rollout of the in-house loyalty program in 2020, after which, the status of the Aeroplan miles would be unclear. The new deal includes a transfer of $250-million in cash, and an additional $2-billion-takeover of unredeemed Aeroplan miles. 

Following Air Canada's separation, Aimia's stock had been plummeting. Now, as the airline announces its partnership with TD, CIBC, and Visa Canada in buying back the program, customers are unsure of what will happen with their points. 

The frustration is understandable, as 2017's departure from Aeroplan left many Air Canada customers confused with what would come next. Air Canada has said in a statement and a Q&A post on their website that Aeroplan miles will now be redeemable for their new program, in 2020. 

Air Canada has given Aimia until August 2 to respond to the offer. 

Lead photo by

Peter Russell


Latest Videos



Latest Videos


Join the conversation Load comments

Latest in City

Doug Ford just got even tougher on Ontario bike lanes with new measures

Toronto's $27 billion Ontario Line just crossed its biggest construction milestone so far

Rare Canadian gold coin sells for over $1.5 million

Toronto ranked among the top 100 best cities in the world for 2025

A full list of all the items included in Canada's holiday GST cut

Liquid soap sold at stores across Canada recalled due to contamination

Canadians to get GST cut on groceries and new $250 rebate ahead of holidays

Snow is finally coming to southern Ontario and here's when it will hit