Aeroplan Reports on Lucrative 2005

Aeroplan Income Fund will focus its efforts on meeting growth targets and further reducing operating costs in 2006, CEO Rupert Duchesne told David Paddon of The Canadian Press after announcing a $100-million profit for 2005.

The Montreal-based company, which operates loyalty programs for former parent Air Canada, CIBC and American Express credit cards, and a growing number of partners in other industries, ended 2005 on a high note.

Net earnings in the fourth quarter ending Dec. 31 were $29.7 million, up 35.6 per cent from a comparable $21.9 million in the fourth quarter of 2004, which was before the former Air Canada subsidiary's initial public offering last summer.

Aeroplan said its growth in the year and quarter was driven by higher sales to existing and new commercial partners, positive momentum in the travel industry, consumer adoption of new partner products and growth in consumer ...