Air Canada receives offer for its Aerogold credit card contract

Airline Industry Information, April 30, 2003

AIRLINE INDUSTRY INFORMATION-(C)1997-2003 M2 COMMUNICATIONS LTD

Air Canada has received an unsolicited offer for the Aerogold credit card contract tied to its Aeroplan loyalty points programme.

On Monday (28 April) Air Canada received the offer for the contract under which the airline sells frequent flyer miles to Canadian Imperial Bank of Commerce which offers them to credit-card holders. The court-appointed monitor Ernst & Young is currently assessing the offer and is expected to produce a recommendation on the contract by Thursday (1 May).

The identity of the bidder has not yet been disclosed, reported Reuters.

((Comments on this story may be sent to aii.feedback@m2.com))