Air Canada understanding to buy Aeroplan gets regulatory OK

Air Canada’s merger of a Aeroplan faithfulness module has perceived all compulsory sovereign regulatory approvals forward of a shareholders’ opinion on a $450-million agreement reached by a airline in November.

Shareholders of stream Aeroplan owners Aimia Inc. are scheduled to opinion on a money understanding on Jan. 8.

Under the agreement, Air Canada will buy a Aeroplan business from Aimia for money and also assume $1.9 billion in liabilities to points holders — partially corroborated by dual banks that offer Aeroplan credit cards.

Toronto-Dominion Bank and a Canadian Imperial Bank of Commerce will compensate Air Canada, that is headquartered in Montreal, about $1.2 billion in total. The banks and Visa have concluded to stay with a faithfulness module until during slightest 2030.

Aimia and a Montreal-based airline pronounced Monday they’ve perceived compulsory clearances underneath a Competition Act and Canada Transportation Act.

Article source: https://www.cbc.ca/news/business/air-canada-aeroplan-1.4958372?cmp=rss